Driven by the tailwind of the London hard fork, Ether () on Aug. 7. While the rally in the biggest altcoin is a positive sign, on-chain data shows the possibility of profit-booking in the short term.
The market is showing a short term upturn with the rally attacking the 3465 retracement resistance. A close over 3465 alerts for a larger emerging bull drive to 3954. Any corrective dips will likely stabilize within Friday’s accelerating upturn range, holding off the 2868 area. Only a close under 2868 signals a reversal of the upturn.