Ethereum (ETH) has staged a powerful rally following a bullish divergence spotted three weeks ago — a move that leading crypto analyst Michaël van de Poppe says confirmed a trend reversal and “massive breakout.”
In a recent post, van de Poppe emphasized that a higher low had formed on ETH’s chart, setting the stage for an explosive breakout. The latest price action validates the bullish divergence and confirms a clear trend shift to the upside.
“The higher low confirmed, and then, a massive breakout took place. The trendswitch is clear,” wrote van de Poppe.
Chart Breakdown: From Divergence to Breakout
The accompanying chart shows ETH/BTC forming a falling wedge pattern that resolved decisively to the upside. Key elements highlighted include:
- Liquidity zone taken out
- Crucial resistance broken
- Strong follow-through with expanding volume
ETH’s strength in the BTC pair reinforces market-wide optimism surrounding altcoins, with the analyst suggesting this is just the beginning.
Altcoins Showing Weekly Bullish Divergences
While ETH shows a daily bullish divergence, van de Poppe notes that many altcoins are flashing weekly bullish divergences — a longer time-frame signal that often precedes sustained uptrends.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/eth-breaks-out-after-bullish-divergence-altcoin-momentum-building/