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Chart of the Day – Monday, May 20, 2024

🏆 Today’s Chart of the Day was shared by Eric Conrads (@conradseric).

  • The second-largest cryptocurrency, Ethereum ($ETHUSD), surged +19.25% today, marking its best day since May 2021.
  • $ETHUSD blasted through a 10-week downtrend line as traders speculate that the SEC could approve a spot Ethereum ETF  this week.

The takeaway: Ethereum surged over +19% today, breaking a 10-week downtrend line. It looks ready to resume its uptrend and outperform Bitcoin in the near term. 

The post Chart of the Day – Monday, May 20, 2024 appeared first on The Chart Report.

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