$ETH weakens against $BTC for a whilein #ethbtc chart candle wick patterns, stoch RSI and Macd shows weakness. Downtrend against #btc may continue, but not against #usd or fiat. Not financial advice.
ETHBTC
Ethereum's Potential Surge: Bouncing Back from a 7-Year Support The recent weeks have been pivotal for Ethereum, the world's second-largest cryptocurrency. While its price faced some fluctuations, a crucial technical development suggests a potential for significant growth in the near future. Analysts are closely watching a technical indicator that hints at a bullish outlook for Ethereum in the coming months.
The Power of the 7-Year Support Line
The indicator in question is the ETH/BTC ratio, a metric that compares the performance of Ethereum relative to Bitcoin. This ratio recently bounced off a significant support trend line that has been in place for a staggering seven years. This trend line essentially represents a historical price barrier below which the ETH/BTC ratio hasn't fallen for an extended period.
Technical analysts view such bounces from long-term support lines as potentially bullish signals. The argument is that when prices find support at these historical levels, it often precedes a period of price appreciation. In simpler terms, the fact that the ETH/BTC ratio held above this key support line suggests a potential reversal of the recent downtrend and a possible upswing for Ethereum relative to Bitcoin.
Dissecting the Bullish Signal
There's more to the story than just the bounce itself. The specific candlestick pattern formed at the support line adds further weight to the bullish interpretation. This pattern, known as a "hammer," is characterized by a long lower wick and a relatively small body, indicating selling pressure that was ultimately overcome by buying pressure. In the context of the ETH/BTC ratio, this hammer suggests that while there were attempts to push the ratio lower, bulls stepped in and prevented a significant decline.
What Could This Mean for Ethereum Prices?
While the bounce from the support line and the hammer candlestick pattern are positive signs, it's important to manage expectations. Analysts aren't suggesting an immediate surge to $4,900, the number mentioned in some headlines.
However, the technical signals do hint at a potential for a sustained increase in the value of Ethereum relative to Bitcoin. This could translate to a notable rise in the USD price of Ethereum as well.
Factors to Consider Beyond Technicals
While technical analysis plays a role, it's not the sole factor influencing cryptocurrency prices. Here are some additional considerations:
• Overall market sentiment: A bullish trend in the broader cryptocurrency market would undoubtedly benefit Ethereum.
• Developments on the Ethereum network: Upcoming upgrades or positive news surrounding the Ethereum blockchain technology could further fuel its growth.
• Regulatory landscape: Regulatory clarity and adoption of Ethereum-based applications could attract more users and investors.
A Cautious Approach with a Hint of Optimism
The bounce from the 7-year support line offers a glimmer of optimism for Ethereum's future. However, investors should exercise caution and conduct their own research before making any investment decisions. The cryptocurrency market remains volatile, and unforeseen events can always impact prices.
Conclusion: A Potential Turning Point for Ethereum
The technical indicators surrounding the ETH/BTC ratio suggest a potential turning point for Ethereum. While the exact price trajectory remains uncertain, the bounce from the long-term support line and the bullish candlestick formation paint a hopeful picture for Ethereum's relative strength in the coming months. By staying informed about broader market trends, technological advancements, and regulatory developments, investors can make informed decisions about their Ethereum holdings.
EVERY Possible Scenario for ETH in 2024As we can all observe, ETH is doing pretty bad against BTC. And I mean neck-deep-up-sh*t-creek-with-its-mouth-wide-open kinda bad LOL.
People are starting to worry and get flashbacks of the December 2020 dip of ETH against BTC.
The current situation is the price retesting a historic golden FIBONACCI level (61.8%) that's about 3 years old. This level is crucial because it's formed by the last cycle's bull-run surge.
Let's explore the possible and impossible, or rather unlikely, scenarios.
FIRST SCENARIO: Ethereum ETFs get approved.
This obviously is what we all wish for, not only ETH investors and fans, but everyone who cares about the Alt-coins market. I expect a huge surge from our golden FIBO level if this scenario occurs.
SECOND SCENARIO: Ethereum ETFs get disapproved.
In this case, it would be reasonable for the price to decline and retest the bottom of an even more historic symmetrical triangle structure that's as old as ETH.
The price should bounce from there as Ethereum recovers from the bad news and retry surpassing the golden FIBO level.
THIRD SCENARIO: Ethereum is doomed.
This is a very unlikely scenario , but let's humor it anyway. What if ETH fails to retest the bottom of the symmetrical triangle structure that's been containing its price action since millennia?
Well, I don't expect this to happen unless ETH fails to recover from the bad news and turns out to be a huge SCAM coin. The biggest scam coin in the history of crypto.
Sorry if this was too intrusive and scary. I just think it's reasonable to always consider the worst as we consider the best outcome possible.
The GREAT news is all of the speculations are pointing to the approval of the Ethereum ETFs , I personally expect the approval next week, so I'm ruling out anything but the BEST possible scenario for ETH this cycle!
Note: This was an exploration of a potential scenario based on the current context and state of the market, not financial advice.
🚨ALTSeason Alert🚨: Why It's Imminent ??The cryptocurrency market is buzzing with anticipation as many analysts and traders believe an altseason is on the horizon. Altseasons are periods in the market cycle when altcoins (alternative cryptocurrencies) outperform Bitcoin (BTC), the leading digital asset. Several factors suggest that an altseason could be imminent, and this article will explore these indicators and highlight promising altcoins to watch.
Altseason Index Signaling a Shift:
The Altseason Index, a metric that tracks the relative performance of altcoins against Bitcoin, currently indicates a Bitcoin dominance-led market. However, the index is approaching a critical inflection point where it could break below its trendline, signaling a potential altseason.
Bitcoin Dominance Poised for a Breakout:
Bitcoin's dominance, which represents its share of the total cryptocurrency market capitalization, has been trading within an ascending wedge pattern. This pattern suggests a potential breakout, with a downward move indicating a shift of power towards altcoins. A decline in dominance below 40% is often considered a hallmark of an altseason.
Bitcoin dominance chart showing an ascending wedge pattern
Ethereum (ETH) Gaining Strength:
The ETH/BTC price ratio, which measures the relative performance of Ethereum (ETH) against Bitcoin, has been on an upward trend. This trend suggests that ETH is gaining strength relative to BTC, potentially signaling a shift in market sentiment towards altcoins.
ETH/BTC price ratio chart showing an uptrend
WIF (WazirX India Token) Poised for a Breakout:
WIF, a cryptocurrency native to the WazirX exchange platform, has been forming a massive ascending triangle pattern on the daily timeframe. This pattern suggests a potential breakout towards $10, making WIF a promising altcoin to watch for the upcoming altseason.
WIF/USDT chart showing an ascending triangle pattern
Additional Factors Supporting an Altseason:
Increased Institutional Interest in Altcoins: Institutional investors are showing growing interest in altcoins, as evidenced by rising investment inflows and the launch of altcoin-focused products.
Strong Fundamentals of Many Altcoins: Numerous altcoins have strong underlying fundamentals, innovative use cases, and active developer communities, making them attractive investment opportunities.
Market Sentiment Favoring Riskier Assets: The overall market sentiment is shifting towards riskier assets, which could benefit altcoins as investors seek higher potential returns.
Conclusion:
While the exact timing of an altseason cannot be predicted with certainty, the confluence of several indicators suggests that it is imminent. Altcoins like WIF, with strong technical patterns and solid fundamentals, are poised to make significant gains during this altseason. However, it is crucial to exercise caution and conduct thorough research before investing in any cryptocurrency.
Huge monthly breakout for ETHBTC. Get ready!ETHBTC holding key support within long term range and pennant building since 2017-2024
Monthly bullish engulfing candle closing in few days. Heikin Ashi monthly doji is also closing in May. The RSI is also starting to break the downward trend.
This looks like an incredible setup. Are you positioned?
ETH LONG TERM IDEAHello,
We have exciting news and insights to share with you! With the potential approval of the Ethereum Spot ETF, we foresee significant movements in Ethereum’s price over the long term. Our detailed analysis and forecast are illustrated in the attached chart, providing you with a clear vision of what might be ahead.
Ethereum Long-Term Price Outlook
Current Situation:
As of now, Ethereum is trading around the $3,900 mark. The market has shown resilience, and with the anticipation of the Ethereum Spot ETF approval, we expect significant bullish momentum.
Key Levels to Watch:
Based on our analysis, here are the critical price levels to keep an eye on:
• $4,396.48: This is our first major resistance level. Breaking through this could set the stage for further upward movement.
• $4,819.93: The next resistance level, which could be a crucial point for Ethereum’s medium-term growth.
• $5,374.45: Breaking past this level could signify strong bullish sentiment, potentially driving prices even higher.
• $6,070.12: This level represents a significant milestone, indicating a strong upward trend.
• $6,443.16: Our long-term target, which we believe Ethereum could reach following the positive momentum from the ETF approval.
Technical Insights:
The attached chart shows Ethereum’s price action and key resistance levels. The descending trendline that Ethereum has been facing is a critical barrier. Breaking through this trendline with strong volume and support from the ETF news could propel Ethereum to new heights.
Why This Matters:
1. Institutional Adoption: The approval of the Ethereum Spot ETF would signal increased institutional interest and confidence in Ethereum, likely driving more investment and adoption.
2. Market Sentiment: A positive decision from the SEC can boost overall market sentiment, not just for Ethereum but for the entire crypto market.
3. Long-Term Growth: With increased institutional participation, we could see sustained growth and stability in Ethereum’s price, making it a valuable addition to any investment portfolio.
We recommend keeping a close watch on the market and these key levels. As always, our team at CryptoSignalAPP is here to provide you with the latest insights and updates to help you navigate the crypto market effectively.
Stay ahead of the curve and make informed decisions with CryptoSignalAPP!
Best regards
ETHBTC Analysis: Bullish Momentum and Potential Corrections#personaloutlook #marketupdate
#cryptoweeklyupdate on 27/05/2024
#sekilascrypto #ETHBTC
As I mentioned last week, we have successfully broken through the yellow area at 0.4883212 - 0.05036641, indicating that ETH is starting to strengthen against BTC. So, what's next for ETHBTC?
Currently, it remains quite strong and bullish, but as we can see, the Stoch RSI is already entering the overbought area, which could potentially lead to a correction. On the daily timeframe, there is still a chance to reclaim up to 0.06047006 and then drop back as a correction to the current area around 0.05677990. However, overall, there is a big possibility it will move to the green zone in the area of 0.06554863 - 0.06813071.
ETHBTC - Maintaining Bull Trend Line (non log) ETHBTC is still acting bullishly on timeframes such as the weekly, shown by this trend line
This leads me to believe that ETHBTC will continue this bullish trend.
As a result ETH's value compared to bitcoin will increase. This would be an ideal scenario in a large altcoin bull market.
$ETHBTC chart's falling channel#ethereum against #bitcoin chart, #ETHBTC has reached top of the channel before ETF approval. Volatility will be insane.
Ethereum killed the Bitcoin star This could possibly be my best trade of 2024.
Activation above 0.061
Chart is self explanatory.
Pattern failure on ETHBTC!!! ***WARNING***Are we going to get a halvening before the Halvening.
Ethereum priced in Bitcoin is giving us the headsup that things are not right in #crypto world
After being so strong for so long
we have broken down through our stop loss for a Bullish #HVF
and now appear to be spilling towards legacy ratio's
if #Ethereum does go on a tumble
expect your #altcoins to lose twice as much value
Ethereum About to Make a MONSTER MOVE??Hey everybody,
Hope all is well.
Today I take a look at the ETH/BTC chart as there is something significant on it. Price has just reached a YEARLY FVG. Yes, you heard that right. For ICT traders, you know what i'm talking about. This is significant in that large moves can occur. So let's dive in as I do my analysis, clean and simple stuff.
Basically, ETH/USD may be a better choice than BTC/USD in terms of returns. As usual, do not over-leverage or get greedy. This is the yearly chart that I analyzed so patience is paramount.
- R2F
ETHUSDT#ETH #Ethereum chart shows a perfect Falling Bullish Wedge formation. It has broken the resistance and maintained above it, confirming the bullish momentum. All we need to do is buckle up. The rise of Ethereum typically signals a revival in altcoins as well.
Massive Drawdown or Rally vs Bitcoin AheadEthereum is about to lose most of its value vs. Bitcoin, or gain near equal footing with it instead.
What are the scenarios, and why?
Bear Scenario:
Lost a 7.2 year uptrend - failed to reclaim on re-test, failed to touch bottom of trend on re-test.
50/200 week MAs Death Cross
Remain below on any further possible re-tests, expect ETH to lose >90% its value vs BTC
Bull Scenario:
Fake Breakdown - 7.2 year uptrend is reclaimed upon testing the 200 week MA following the death cross.
This leads to a breakout at the other end of the wedge.
A fake breakdown leading to a breakout at the top of the wedge would target ETH becoming near equal in value to 1 BTC
key is whether it can receive support and rise around 3025.37Hello traders!
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(ETHUSDT 1M chart)
You can see that ETH has a volume profile around 2.7K and in the 1.4K-2.0K range.
Also, due to this decline, the HA-High indicator appears to be moving from the 3321.30 point to the 2514.38 point.
Therefore, if the HA-High indicator is created at the 2514.38 point when this month closes, the primary support zone is expected to be the 2514.38-2.7K zone.
The second support range is 1.4K-2.0K.
(1W chart)
Even if you hide all indicators and just look at the arrangement of candles, you can intuitively know where support and resistance points or sections are formed.
The reason is because volume candles charts were used.
The thicker the candle, the more trading volume has occurred, so you can see that the point or section where the corresponding candle is located forms a volume profile section.
Therefore, it can be said that the area around the candle that the finger points to corresponds to the volume profile section.
Since the psychological volume profile section is formed over the 2616.79-3043.91 section, the key is whether it can receive support and rise around this section.
(1D chart)
Unlike the BTC chart, the HA-Low indicator was not created on the ETH chart.
Therefore, it cannot be said that a low point has been formed yet.
Therefore, further declines along the downward channel seem likely.
At this point, in order to turn into an upward trend, the price must rise above the MS-Signal indicator and maintain the price.
Therefore, the key is whether the price can be maintained by rising above 3025.37.
The 3025.37 point is the HA-High indicator on the 1W chart, so if it receives support around this point, it is likely to lead to a further rise.
In order to continue the upward trend, the price must rise above the HA-High indicator and maintain the price, so it must rise above the 3903.61 point, which is the current HA-High indicator point.
Have a good time.
thank you
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- The big picture
A full-fledged upward trend is expected to begin when the price rises above 29K.
This is the section expected to be touched in the next bull market, 81K-95K.
#BTCUSD 12M
1st: 44234.54
2nd: 61383.23
3rd: 89126.41
101875.70-106275.10 (when overshooting)
4th: 13401.28
151166.97-157451.83 (when overshooting)
5th: 178910.15
These are points that are likely to encounter resistance in the future.
We need to see if we can break through these points upward.
Since it is thought that a new trend can be created in the overshooting zone, you should check the movement when this zone is touched.
#BTCUSD 1M
If the general upward trend continues until 2025, it is expected to rise to around 57014.33 and then create a pull back pattern.
1st: 43833.05
2nd: 32992.55
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Bitcoin Dominance Surges:Is Now the Time to Buy or Sell ETH &BTCBitcoin dominance is an important chart indicator that reflects the flow of liquidity and market capitalization of bitcoin in comparison to the rest of the cryptocurrency market.
Bitcoin dominance historically moves in cycles, with the flow of risky cryptocurrencies(altcoins) to less risky ones such as Bitcoin. This provides a signal of when to buy or sell your Bitcoin and altcoins.
A lot of people have been speculating that it's altcoin season. However, I believe we need one more leg up in Bitcoin dominance as the ETH/BTC pair breaks down and liquidity flows from altcoins to Bitcoin.
Bitcoin dominance
ETH/BTC broke support
To sum up, I believe that we could see the price of Bitcoin rallying within the upper and lower bounds of the accumulation, while Ethereum and altcoins decline. This could lead to a significant rise in Bitcoin dominance before monetary policy comes into play for the next cycle of deciding which altcoin to buy. Expect volatility in the coming months as altcoins decline against Bitcoin.
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Ethereum's Drop: Is $2500 Still in Sight?I mentioned in the previous video that we might see a drop in the price of Ethereum as the ETH/BTC pair breaks lower due to liquidity being drawn to Bitcoin.
We have observed a relief rally towards the 20 EMA, following the breakdown of the ETH/BTC pair, while still respecting the 20 EMA.
Based on the previous cycle in 2019, we saw something similar as ETH/BTC broke down the support. ETH/USD retraced towards the 20EMA before dropping about 30%, so we could have something similar play out.
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Crypto Market InsightsExamining the broader crypto market, it's evident that we've hit the Wave 4 target zone on the Total Market Cap chart, reacting perfectly—a precise landing in this case. This suggests that, looking at the entire market as a unified entity, we should form new local highs and surpass Wave 3.
When we look at other indicators, like the Ethereum to Bitcoin chart, we see that the price is falling, indicating Ethereum's strength relative to Bitcoin has been declining for some time. We're now at the lowest level in three years. This could soon reverse, potentially triggered by a trendline that has been touched twice since January 2020, indicating a possible turn.
If Ethereum turns around, it would likely lead the Altcoins. During an Altcoin season, Ethereum usually pumps before other Altcoins follow. This means we need a bit more patience.
Regarding Bitcoin dominance, we expect another rise to continue the four-month trend of higher highs and higher lows. This could lead to a subsequent drop in dominance, possibly placing us back in the current range. A falling Bitcoin dominance, combined with a rising Bitcoin price, would propel Altcoins, potentially coinciding with a turn in the Ethereum to Bitcoin chart.
Several factors align favorably. We just need to stay patient, focused, and ready to seize opportunities.
ETH/BTC Ratio Slumps 30% as Bitcoin Flexes Market MuscleThe Ethereum (ETH) to Bitcoin (BTC) ratio has been on a downward spiral, recently dipping to 0.046 – a level last witnessed in April 2021 and briefly revisited in April 2024. This significant decline underscores Ethereum's current challenges in maintaining its position against Bitcoin's ever-growing dominance within the cryptocurrency market.
Over the past year, the ETHBTC pair has shed an unsettling 30% of its value. Year-to-date losses are also concerning, exceeding 11%. These figures paint a worrying picture for Ethereum, raising questions about its future trajectory and potential to dethrone Bitcoin as the leading cryptocurrency.
Several factors are likely contributing to this trend:
• Bitcoin's Narrative Strength: Bitcoin continues to hold a strong narrative as "digital gold," a scarce, hedge-like asset favored by institutional investors seeking a store of value. This perception fuels its price stability and market dominance, particularly during periods of economic uncertainty.
• Ethereum's Inflationary Concerns: Unlike Bitcoin's capped supply, Ethereum's issuance is not limited. This "inflationary" model has caused anxieties among some investors, who worry about potential price dilution in the long run.
• The Ethereum Merge Looms: The highly anticipated Ethereum merge, transitioning from a Proof-of-Work (PoW) to a Proof-of-Stake (PoS) consensus mechanism, is still under development. Delays and uncertainties surrounding the merge's impact on Ethereum's scalability and efficiency might be keeping some investors on the sidelines.
• Regulatory Landscape: Regulatory scrutiny surrounding the cryptocurrency market remains a concern. While clarity on regulations could benefit the entire industry in the long run, the current uncertainty might be discouraging some investors from entering the Ethereum market.
• Alternative Layer 1 Blockchains: The emergence of alternative Layer 1 blockchains like Solana and Cardano offering faster transaction speeds and lower fees could be siphoning off some investor interest away from Ethereum.
Is This the End for Ethereum?
The current situation doesn't necessarily signal the end of Ethereum. It's crucial to remember that the cryptocurrency market is still young and highly volatile. Here are some reasons for optimism regarding Ethereum's future:
• The Potential of DeFi: Ethereum remains the dominant platform for Decentralized Finance (DeFi) applications, a rapidly growing sector with immense potential to disrupt traditional financial services. Continued DeFi adoption could significantly boost Ethereum's utility and value.
• The Merge's Promise: A successful merge to PoS could address scalability concerns and enhance Ethereum's environmental sustainability, potentially attracting more environmentally conscious investors.
• Developer Ecosystem Strength: Ethereum boasts a robust and active developer ecosystem constantly innovating and building dApps (decentralized applications) on the platform. This strong developer base is a crucial asset for Ethereum's long-term growth.
Looking Ahead: A Shifting Landscape
The cryptocurrency market is constantly evolving, and the relationship between Bitcoin and Ethereum is likely to remain dynamic. While Bitcoin may retain its "digital gold" status for the foreseeable future, Ethereum's success will hinge on its ability to address scalability issues, deliver on the promises of the merge, and maintain its dominance in the DeFi space.
Investors should carefully consider their risk tolerance and investment goals before making any decisions. Both Bitcoin and Ethereum represent high-risk, high-reward investment opportunities. A diversified portfolio across established and emerging cryptocurrencies might be a prudent approach for navigating the ever-changing digital asset landscape.
$ETH price against $BTC is almost ready to move on#eth / #BTC pair is moving in the descending channel and nearing to see a local bottom. If price takes action there #ethereum price will likely overperform #bitcoin for a while. Not financial advice.
Can ETH Outperform BTC?ETHBTC is one of those charts, which can be telling us that volatility is near. Loking at the daily price chart, it can be actually finishing a larger (A)-(B)-(C) correction, currently seen in final stages of the wedge pattern within subwave 5, with ideal swing zone here around channel support line , 0.045 – 0.040 area. So, as we have been talking about for a while, BTC.dominance might slow down and ALTcoins may kick in, so ETH may try to catch Bitcoin soon. Just keep in mind that the first bullish evidence for ETHBTC is only above 0.061 region.
$ETHBTC HAS BOTTOMED ethbtc has been in the never ending channel of pain since Oct '22, but we think that's finally coming to an end.
successful retest and reclaim of the April '22 low (pink box).
eth looks great here, which likely signals the real start of alt season.
