Chart of the Day - Friday, December 6, 2024

Patrick Dunuwila
December 6, 2024

Chart of the Day


🏆 Today's Chart of the Day was shared by Thomas DiFazio (@ThomasDiFazio).

  • As Bitcoin continues to print record highs, the second-largest cryptocurrency, Ethereum ($ETHUSD), could join the party soon. 
     
  • Ethereum is testing $4k for the third time this year. It peaked at this level in March before building a nine-month base. If Ethereum clears $4k, it could test all-time highs, around $4,850 by year-end. 
     

  • While Ethereum has lagged Bitcoin by a wide margin this year, it's still up twice as much as the Nasdaq 100, gaining +72% YTD. 
     

    The Takeaway: If it clears $4k, Ethereum could test record highs in the coming weeks. Despite underperforming Bitcoin by a wide margin this year, it's still outperforming the strongest areas of the stock market. 

Filed Under: