---
title: "Ethereum (ETH) breaks out and ecosystem alts follow"
url: https://diffcoin.com/ethereum-eth-breaks-out-and-ecosystem-alts-follow/
description: "Table of Contents $ETH has just broken out after consolidating over the past three days. Next leg higher can drive ethereum ecosystem altcoins skywards.…"
published: 2023-11-13
updated: 2023-11-13
author: "Mila"
site: "Diffcoin"
---

# Ethereum (ETH) breaks out and ecosystem alts follow

## Table of Contents

**$ETH has just broken out after consolidating over the past three days. Next leg higher can drive ethereum ecosystem altcoins skywards.**

## Next leg up for $ETH?

Having cleared the $2,000 resistance last Thursday with an 11% move, $ETH has been consolidating within a flag for the past three days. At 2 pm GMT $ETH popped out of the top of the narrowing flag pennant just before it ended and is currently sitting at around $2,100 at time of going to press.

Source: Trading View

A confirmation of the breakout can take the $ETH price back down to touch the top of the triangle at $2,060, but this still remains to be seen. This bullish move from $ETH is exactly what was needed for the crypto sector, as $BTC is tracking sideways without any momentum up or down as yet.

Of course, there is still the scenario for $ETH that this move becomes a fake out and the price is rejected back through the triangle and downwards. However, as it stands the move is looking very positive.

## Ethereum ecosystem shows signs of waking up

It’s still too early to tell if this $ETH break out will capture momentum now to the upside, but initially, ethereum staking coins have started to run with $ETH.

Lido ($LDO) is one of the front runners with a 6% move so far. Here too, the price has come back to test what may now be support at $2.40 and a higher high must still be made.

Rocket Pool ($RPL) spiked as much as 16% before coming back to test support at just under $32, and Frax Shares ($FXS) appears to have successfully tested support at $6.90.

It will be very interesting to see whether ethereum can sustain this latest rally – the whole of the crypto market can benefit greatly from it.

*Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.*

[Source link](https://cryptodaily.co.uk/2023/11/ethereum-eth-breaks-out-and-ecosystem-alts-follow)