Ethereum nears key Bitcoin price level that last time sparked 450% gains

The current ETH price setup versus Bitcoin closely mirrors 2019, with an oversold RSI and prolonged weakness below key moving averages after a multiyear decline.

Ethereum’s Ether (ETH) token is approaching a critical price zone against Bitcoin (BTC), which historically marked the beginning of a massive rebound.

The ETH/BTC pair, currently trading near 0.019 BTC, is edging closer to 0.016 BTC — the exact level it reached in September 2019 before rallying nearly 450% over the following year.

The current ETH/BTC setup resembles 2019, with both periods marked by oversold relative strength index (RSI), long stretches below key moving averages, and multiyear declines.

Read more

Source Link

Share with your friends!

Products You May Like

Leave a Reply

Your email address will not be published. Required fields are marked *