ETH ready for another bullish run over BTC
All cryptomarket lost 20% in two days. The most of the people expected this to happen.The price of ETH has felt a 20% of its value compared to BTC. On the 1-day chart, this was expected since ETH really seemed overbought (RSI over 80).
But it seems that ETH has found support on 9-day ema.
Probably in the next few days, we are going to see some slower horizontal movements before the market gets settled. I expect ETH to become bullish over bitcoin, again in the next period. Resistances are Fibonacci levels (0.120 and 0.135). I see ETH reaching 0.2BTC soon, and if BTC continues to fall down even 0.3 ratio is possible.
It is a good moment to buy this dip.
But it seems that ETH has found support on 9-day ema.
Probably in the next few days, we are going to see some slower horizontal movements before the market gets settled. I expect ETH to become bullish over bitcoin, again in the next period. Resistances are Fibonacci levels (0.120 and 0.135). I see ETH reaching 0.2BTC soon, and if BTC continues to fall down even 0.3 ratio is possible.
It is a good moment to buy this dip.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.