Crypto analyst van de Poppe has highlighted Ethereum’s recent breakout as a sign of bullish momentum in the altcoin market. His analysis underscores the formation of a “higher low” on ETH charts, leading to an explosive surge. The price action confirms this shift towards an upswing, with the trend clearly changing upwards.
The chart breakdown reveals the key factors driving this rally: the resolution of a falling wedge pattern in ETH/BTC, indicating a decisive breakout. This coincides with notable milestones such as liquidity zone clearing and overcoming critical resistance levels. The positive volume accompanying these movements further reinforces the bullish momentum.
Beyond the specific example of Ethereum, van de Poppe points to the existence of weekly bullish divergences across various altcoins. This longer-term signal suggests a strong possibility for sustained growth in the overall altcoin market.
The analyst has published this analysis on Coindoo, noting this is just the beginning of the momentum.