Ethereum poised to 50% surge this year against Bitcoin Fractal analysis
The ETH/BTC trading pair is forming a classic bullish reversal pattern similar to the one from 20192021, which led to 140% price gains for Ether.
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The ETH/BTC trading pair is forming a classic bullish reversal pattern similar to the one from 20192021, which led to 140% price gains for Ether.
ETH price has repeatedly failed to break above a key trendline resistance and now Ethereum risks losing a strong technical support as well.
Ether has entered a bearish range that preceded a 35% price crash in the April–May 2022 session.
Ether could enter the pattern's breakout stage in the days leading up to the highly-anticipated Merge.
The rise in the ETH/BTC pair is painting a bearish technical pattern, hinting at a potential correction.
Interestingly, Ethereum has not reclaimed its all-time high against Bitcoin since June 2017 despite the NFT craze.
Ether is breaking out of a similar symmetrical triangle pattern that propelled XRP's prices from around $0.50 to around $2.90 within a month.
Ether could drop another 50% against Bitcoin by the end of 2024 after entering a technical breakdown setup.
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