ETH Continues Uptrend While BTC Consolidates

Neither this post nor any other on cryptofal.com should be taken as financial advice. It is not.

Ethereum is continuing its uptrend that it started at the end of December. While it’s a slow trend, it has been fairly steady.

The MACD is swinging upwards however, it should be noted that the MFI is showing some bearish divergence. Volume has also mostly settled and is holding fairly steadily. ETH dominance has held fairly steadily while BTC dominance has continued to dip.

The overall cryptocurrency market is currently at $2.23 trillion, while the overall volume is $86 billion. BTC dominance is at 39.4% and ETH is at 20.4%. Altcoins are making gains throughout the cryptocurrency space, and altcoin dominance has continued its uptrend, taking larger percentages of money entering the market.

Chainlink is having a strong few days like many other tokens throughout the altcoin space. LINK is up around 30% this week and its MACD and MFI have had strong uptrends, that look like they could continue. However, it should be noted that the MFI is nearing overbought territory once more.

$28 to $30 is a strong area of resistance that LINK could struggle with, however, if it breaks this area, it’s likely it could continue further upwards.