The 30m chart is showing that ETH has officially escaped the stagnant state and is starting to follow BTC according to the model of 'late but running further.' The deep dip to the area below three thousand and then quickly bouncing back to three one six two is very fast, not at all like a technical correction but rather leaning towards liquidity grabbing before changing pace.
It is worth mentioning that BTC is rising, but ETH is holding its value extremely well, without a strong sell-off. This indicates that the flow of money is preparing to rotate towards ETH. If ETH breaks through the range of three one seven to three one eight, it will enter a phase of stronger movement than BTC due to much more liquidity on the sidelines.
ETHUSDT
Perp
3,109.56
+0.35%