Ethereum vs. Bitcoin: If a key support level is breached, the price of Ethereu
Jan 25, 2023 at 12:27
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Member Since Dec 08, 2022
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Jan 25, 2023 at 12:27
Ether's rally vs Bitcoin is not only showing signs of exhaustion but is also in danger of breaking below a key technical support level. However if ETH/BTC pair declined nearly 9.25% on jan 25 from its local top of 0.0779 BTC establised on Jan 11. Since the start of the year, Bitcoin has been slightly outspacing Ether in terms of US dollars, rising 38% vs 35% respectively.
Interestingly, Ether's pullback versus bitcoin has launched its price at the bottom of its EMA ribbon range, as shown below. In other words if we say, breaking the lower would increase its possibility of declining by more than 20% from its current price levels as per Coinpedia's Ethereum price prediction.
Conversely, rising above the ribbon ranges raises the asset's chances of a broader rally.
Interestingly, Ether's pullback versus bitcoin has launched its price at the bottom of its EMA ribbon range, as shown below. In other words if we say, breaking the lower would increase its possibility of declining by more than 20% from its current price levels as per Coinpedia's Ethereum price prediction.
Conversely, rising above the ribbon ranges raises the asset's chances of a broader rally.
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