This TradFi Signal Preceded Explosive Ethereum Rallies: Is ETH Next?

Can ETH finally overcome the $2,000 obstacle and head further north soon? The Russell 2000, an index tracking roughly 2,000 smaller publicly traded US companies that is generally viewed as one of Wall Street’s more risk-sensitive equity benchmarks, has returned to record territory at over 3,050 over the past few weeks. According to popular analyst Crypto Rover, there’s a hidden connection between the index and the largest altcoin, which could lead to a major ETH rally. ETH Rally Ahead? As the market observer highlighted, the Russell 2000’s surge to a new all-time high follows previous similar gains charted in 2016 and 2020. After both instances, ETH went on a massive rally within 6-12 months. Given the index’s risk-on significance, when it surges, it means that investors have become more comfortable moving away from mega-cap stocks and into smaller companies. This is often interpreted as evidence that risk appetite and liquidity conditions are improving. Here’s where Crypto Rover outlined the connection with Ethereum as the Russell broke out during previous cycles before ETH eventually followed with significantly larger percentage gains. Analysts at Milk Road previously described t...