Most of the major cryptocurrencies are still trading near the recent lows after an extended period of range-bound price action. The trading ranges are still intact in most cases, and although the short-term term technical picture slightly improved, a clear buy signal is still missing.
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The relative performance of Ethereum and Bitcoin changed substantially in recent days in the favor of ETH, and as the weakness in altcoins was the main driver of the steep decline of the recent weeks, this could be a very important turning point.