Volatility is returning to Ethereum pairs and thus we take a look at ETH/BTC.
ETH/BTC
I stated before that my fundamental bias would be bullish towards this pair, however that isn’t what the fundamentals suggest as make lower highs and lower lows. This generally suggests that the bears are in control. We can see a possible channel pattern developing for this pair as well. My experience suggests that the top trendline can ignore the spike all time highs, which I’ve done for now. If we can’t get a significant bounce in this pair the upper trendline may be much more slanted from the all time highs. See below’s alteration:
It is unclear which trendline will be more significant right now so we will have to wait a bit for price action. In the mean time I will pat myself on the back for my awesome analysis of ETHUSD.
If you liked this article follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.
Disclaimer: This is not trading or investment advice.
Over the past month, a prominent institutional investor, often referred to as "smart money," has…
A new analysis reveals a staggering concentration of Ethereum holdings, with just 104 whale addresses…
Tuesday saw a significant breakout in the altcoin market, even as Bitcoin briefly dipped to…
In 2024, the adoption of stablecoins experienced rapid growth in regions such as Latin America,…
Litecoin experienced a surge in network activity in 2024, with average daily active addresses climbing…
The TON Blockchain emerged as a standout success in 2024, largely fueled by the growing…