Family token Ethereum, Ether (ETH) can enhance by 75% compared to Bitcoin (BTC) to the fresh year, in accordance with the ripening stubborn reversal configuration on a weekly chart.
Many signals indicate higher ETH prices
The ETH/BTC pair creates something that seems to be the opposite model (IH & s) from the beginning of September.
This confirms the formation of three trough, the deepest in the middle, under the common resistance to the neckline at 0.0420 BTC.
Technically, IH & S configuration separates after the price breaks above the neckline and increases by the maximum height of the pattern.
The operate of this technical rule to the ETH/BTC chart brings its growth point by the end of the year to about 0.066 BTC, which is about 75% compared to current rates.
Further stubborn signals come from the inevitable creation of the golden intersection of the 20-week interpretation of the average movable Ethereum (20-week-old EMA; Green Wave) and its 50-week-old EMA (red Wala).
A similar crossover in July 2020 was preceded by a 250% boom in ETH/BTC rates, although after the first passage of a diminutive correction purchased.
This time, immersion in the BTC support zone 0.033–045- equalizing with 20- and 50-week-old EMA- can serve as a stepping stone for a similar reflection, ultimately confirming the Breakout IH & S scenario.
Main resistance of ETH/BTC on watching
ETH/BTC encounters several grave obstacles before confirming the full breakthrough. The first of these is the 200-week EMA (blue line) near 0.045 BTC, a level that has repeatedly rejected plus tests in the last two years.
In addition, there is an even more significant barrier: a long -term trend line, which since 2017 meant the peaks of Emerra against Bitcoin.
The couple would probably launch the trend, which is currently in the 0.050–0,055 BTC zone, if ETH/BTC can close above 200-week EMA.
Related: Bitcoin, Ether can make “Monster Move” over the next 3 months: Tom Lee
In both cases, the ether still has 15-30% of growth potential compared to Bitcoins this year.
This article does not contain investment advice or recommendations. Each investment and commercial movement involves risk, and readers should conduct their own research when making decisions.
