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.
Velocity Ticket is trying to fix a major gap in businesses, and the approach it…
Axelar is moving fast to contain damage after identifying a security incident that has resulted…
suiUSDe now has a dedicated landing page. The token, officially the eSui Dollar, comes out…
Ventuals has fully wound down its HIP-3 DEX, and vHYPE withdrawals are now open. The…
Avalanche has launched the Avalanche Payments Collective, bringing together 28 organizations spanning nearly every layer…
A wallet tracked as 0x5f91 just opened a fresh 5x leveraged long on ASTER, putting…