ETH correlation with BTC has the bears in control last night.
Recently it appears the correlation is present over 90% of the time, so it is hard for the bulls here to gain attention as we are still 30% from all time highs and BTC has much less in terms of resistance.
Without news or some other events to break the correlation, ETH remains at the mercy of BTC.
I personally will always look at BTC when analyzing ETH as well. Seeing BTC is still healthy on the 4 hour and daily, is a good sign for ETH bulls.
Recently it appears the correlation is present over 90% of the time, so it is hard for the bulls here to gain attention as we are still 30% from all time highs and BTC has much less in terms of resistance.
Without news or some other events to break the correlation, ETH remains at the mercy of BTC.
I personally will always look at BTC when analyzing ETH as well. Seeing BTC is still healthy on the 4 hour and daily, is a good sign for ETH bulls.
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