shows. The tally has increased by 2.6% since Ethereum developers announced the Shanghai upgrade on Dec. 8.The path of least resistance for ether is on the higher side, the cryptocurrency's breakout from a triangular consolidation pattern suggests."For now, the ether market appears to be in equilibrium near $1,400. If the U.S.
Consensus is for the Labor Department to show the year-on-year rate of headline CPI gains dropped to 6.6% in December from 7.1% in November. The core figure, which excludes the volatile food and energy component, is forecast to have dropped from 6.0% to 5.7%.The total market capitalization of all cryptocurrencies has increased by 12% to nearly $500 billion this month. The bullish revival, however, has been led by a select few coins, including ETH.
That's the message from the market breadth indicator, which measures the number of major cryptocurrencies trading above the 200-day simple moving average .in traditional markets to assess the degree of participation in a rally and broader market momentum. The market is said to be bullish when the breadth is above 50%. Major coins are ones with at least a $1B market valuation. .
In other words, most major coins traded below the key average, indicating weak breadth or degree of participation in the recent bullish turnaround.
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