ETH and ALT Coins Take-Off

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

Overnight, ETH found itself breaking yet another area of resistance as it tests higher. It’s currently attempting to turn this line of resistance into a line of support. The MFI and MACD have trended upward fairly strongly, however it wouldn’t be too surprising if we see a downtrend soon as the MACD and MFi start to swing downward. It should also be noted that volume is decreasing as well.

The overall cryptocurrency market cap is just below $2.4 trillion and the overall volume has decreased to $124 billion.

Following broader market movements, altcoins have also seen lots of movement. Including LRC which we’ve been watching for awhile now. After testing support twice, it’s rocketed up over 30% in price. The MFI has shot up, almost bordering overbought territory and the MACD has also swung upward fairly strongly, however it is looking like it could swing down soon.