ETH has somehow managed to buck the trend of current downtrend in the crypto market. It has also succeeded in crossing a significant resistance against BTC and if this trend holds, we might see a new cycle of ETH outperforming BTC crossing over to 5K. We even see that 4K is a pretty good support for ETH against USD.Now, I agree the market is a bit bearish at this point and there's not too much good news to pass around, but looking at ETH chart, there is still some signs of strength. However, I'll not suggest going all in at this point, but perhaps DCA or conversion from BTC to ETH is the right way to go.
I also don't think ETH will flip BTC in near future but eventually it'll happen(ETH needs to be about 7.4K compared to BTC price today) if the extended cycle hypotheses is to play out.
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.
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.