Long-term Ethereum Analysis:
🔷ETH/USDT (1W Chart)
Ethereum, despite being the second largest asset in the market after Bitcoin, is the weakest in performance compared to other network currencies.
Ethereum has been moving in an upward trend since March 30, 2020, in an ideal manner, but this trend was broken in the recent correction, which increased the negativity on Ethereum and other currencies.
As for what I see, Ethereum has completed forming the bottom of the current wave. Notice on the RSI indicator at the bottom of the chart that every time the price drops to the bottom of the indicator, a new upward wave begins.
However, the condition for Ethereum to achieve a new peak is to return above the general upward trend shown in white; at that time, a Fake Breakout will have occurred, which is a positive indicator, and it will then be a strong launch time for the currencies.
