A widely followed crypto analyst says the following few days can either confirm or deny a reversal for Ethereum (ETH) as it trades against Bitcoin (ETH/BTC).
Crypto trader Michaël van de Poppe tells his 723,500 followers on the social media platform X that certain signs point to a bullish ETH divergence.
“These are great signs on the markets, as ETH has made its first bullish divergence in the daily timeframe in more than two years.
The question is: Will this be the actual reversal signal?
We’ll be seeing that in the next 2-3 days.”
In an update tweeted less than 24 hours after the above analysis, Van de Poppe confirms that ETH/BTC’s bullish divergence was a go.
“The bullish divergence on Ethereum is still active.
I’d like to see a 0.042 BTC hold for ETH, after which we should expect another upward push.
ETF flows are stagnating and slightly turning positive –> green September coming up?”
ETH is trading for 0.042 BTC at time of writing, or $2,452. The leading smart contract platform is down 4.5% against the US dollar in the last 24 hours. Meanwhile, BTC is currently worth $58,250, down 3.3% against the US dollar in the same period.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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