Looking at the 100-day moving average and an apparent double bottom formation, we see the potential for this market cap measure to move materially higher. The 100-DMA has been a launching point in the Spring and Summer. The Fall version may be around the corner.

The inflection point to keep an eye on is the $73 billion mark. As with 8700 in Bitcoin ( BTC ), it is best to watch and go with any move as it starts.

Bottom Line: This chart does give us some hope that Ethereum can wake up and lead a move up in crypto.

DISCLOSURE: Token Metrics is a regular publication of information, analysis and commentary and does not provide individually tailored investment advice. The Token Metrics team has invested and advised in many blockchain companies. A complete list of the team disclosures, advisory roles and current holdings can be viewed here: https://blog.tokenmetrics.com/disclosures/.