With the recent capitulation eth has not set a new major local low like BTC did. Chart is behaving oddly similar to what btc correction looked like in July 2017. Back then we made a new ATH, then had an initial 50% correction (like we did in May – July 2021) then going back up, barely setting a new highs (green marks) before going into a second capitulation, that took btc even slightly lower then an initial fall was.

It looks like ETH with the rest of the altcoin market cap is doing the same.

If Eth starts to correct rapidly to the upside, without slow grind, but just exploding upside, like a presented with a yellow arrow like you can expect new ATHs to be in the cards and the big altseason to start especially for the rest of the “OG” alts that haven’t had their true bull run yet.

I am not a financial advisor so non of this should be taken as a financial advise. Be well.

BINANCE:ETHUSDT
BITSTAMP:BTCUSD