ETH/BTC is testing an important resistance
The ETH/BTC is testing now an important resistance on the 1D graph.
The pair is trading at the first important Fibonacci level ( around 0.055 ETH/BTC ) tracing back from the long term lows.
The general trends as well as the fundamentals for Ethereum shows very strong case for a continuous rally to upper tracing levels.
This resistance has been tested numerous time and is a STRONG RESISTANCE / SUPPORT.
If the pair breakthrough the resistance there is a strong opportunity for the pair to reach higher.
Bitcoin being more and more under pressure with the recent rally of XRP & ADA, ETH remains to my opinion the strongest candidate to overtake at some point the top spot within the crypto's.
So the technical support combined to the fundamentals of the currency are a clear opportunity to enter / add to position on ETH.
But let's be careful the pair may also not pass the resistance and fall back to recent or new lows but all indicators are in the green :-)
Lio
The pair is trading at the first important Fibonacci level ( around 0.055 ETH/BTC ) tracing back from the long term lows.
The general trends as well as the fundamentals for Ethereum shows very strong case for a continuous rally to upper tracing levels.
This resistance has been tested numerous time and is a STRONG RESISTANCE / SUPPORT.
If the pair breakthrough the resistance there is a strong opportunity for the pair to reach higher.
Bitcoin being more and more under pressure with the recent rally of XRP & ADA, ETH remains to my opinion the strongest candidate to overtake at some point the top spot within the crypto's.
So the technical support combined to the fundamentals of the currency are a clear opportunity to enter / add to position on ETH.
But let's be careful the pair may also not pass the resistance and fall back to recent or new lows but all indicators are in the green :-)
Lio
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.