The vast majority of the crypto market is in the red on Thursday. However, ethereum, and its ecosystem continues to look bullish. Are $ETH, $MATIC, and $ARB about to go on a run?
It might well be argued that now the Spot Bitcoin ETFs have been approved, the focus is likely to shift from the number one cryptocurrency, to the number two cryptocurrency (ethereum), and the rest of its ecosystem.
$ETH price consolidates
Source: Trading View
Even though $ETH has been in a downward trend for the last week, it’s hard to maintain a sense of bearishness for the premier layer 1 blockchain. A flag has been forming over this period, and it looks as though a breakout could happen soon, or at worst, perhaps the price will come back to test the support at $2,400.
If $ETH continues to follow its main trend to the upside, various of the ethereum ecosystem coins will follow suit, and some of these will potentially outperform $ETH.
Polygon (MATIC) in huge triangle pattern
Source: Trading View
$MATIC i
We współpracy z: https://cryptodaily.co.uk/2024/01/ethereum-eth-polygon-matic-and-arbitrum-arb-in-the-red-but-still-looking-bullish
