Ethereum Bitcoin Holds Major Support

I am remiss that this summer I have been enjoying life more than sitting in front of the screen diligently analyzing price action. While catching myself up on the long term trend changes from the recent moves I came across the ETHBTC cryptocurrency cross pair. This pair has been my favorite to watch and trade for years.

On the Weekly, price has reached and begun to respect the confluence of the Ichimoku cloud which aligns with the 50% Retracement of the 2019-2021 bull trend as Ethereum captured more relative market share to Bitcoin. The recent recovery in cryptocurrency is tending to favor the more volatile assets and this too is reflected in the bullish rise of ETHBTC.

On the Daily chart 6/22/22 price did a textbook "50 in 50" hold of the short term rally to confirm the Weekly support.