LMAX Group market strategist Joel Kruger said that the current Ethereum price trend is showing signs that it may be ending the multi-year decline compared to Bitcoin. "There are indications that Ethereum may finally be bottoming out after a long-term downtrend against Bitcoin," Kruger said in a market note on Monday. "We believe it is important to keep a close eye on the current monthly highs for the ETH/BTC exchange rate, and a breakout above and above the current monthly highs will help boost ...
"ETH appears to be trying to build some bullish momentum and could eventually rally above $3,000," said Joel Kruger, strategist at LMAX, in a note on Tuesday. "Sentiment towards the world's second-largest crypto asset is rising again as many medium- to long-term players step in to take advantage of the recent decline." In addition, cryptocurrency analysis firm 10x Research pointed out in a report that Ethereum's Relative Strength Index (RSI), a key technical indicator that measures momentum, fel...
In today's market update, LMAX Group strategist Joel Kruger said that if the poor performance of U.S. stocks evolves into a broader correction, cryptocurrencies could fall further. "Right now, we believe the biggest risk to crypto assets is that the US stock market is heavily overbought and may be on the verge of crashing. This correlation is by no means absolute, but there is evidence that a sharp stock market correction could weigh on crypto assets, at least temporarily," the analysts said. Th...