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.
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