{"id":408552,"date":"2019-12-24T12:00:32","date_gmt":"2019-12-24T12:00:32","guid":{"rendered":"https:\/\/uniquehot.com\/?p=408552"},"modified":"2024-06-11T13:35:44","modified_gmt":"2024-06-11T13:35:44","slug":"ethereum-rally-100-percent-against-bitcoin-analysis","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum-rally-100-percent-against-bitcoin-analysis\/","title":{"rendered":"Why Ethereum Could Rally by Over 100% Against Bitcoin: Analyst"},"content":{"rendered":"
Although all eyes have been on Bitcoin as of late, it may be time to pay some heed to altcoins like Ethereum and XRP. According to a recent analysis of the ETH\/BTC chart, Ether may soon rally by over 100% against the leading cryptocurrency Bitcoin, with technical and fundamental factors supporting a rally in this trading pair.<\/p>\n
According to a trader, the chart of ETH\/BTC is setting up for an upward breakout in the coming months, drawing attention to two key technical factors: a colossal falling wedge that has been in place for over a year now, coupled with a 15-month-long bullish divergence between the price action and the Moving Average Convergence Divergence (MACD).<\/p>\n
This, he claimed, will support an Ethereum against Bitcoin rally of over 100% by the end of 2021.<\/p>\n
\nETHBTC. Failed to break diagonal resistance.
Short term not looking good unless we manage to break diagonal painting that iHS on the weekly RSI.
Long term i'm a mega bull.
– Massive FW
– 15 months bullish div on the MACD pic.twitter.com\/pY0OkmMPS1<\/a><\/p>\n— Wolf \ud83d\udc3a (@IamCryptoWolf) December 23, 2019<\/a><\/p><\/blockquote>\n