RATE Group | Ethereum Price Could Revisit 0.037BTC Vs Bitcoin
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Ethereum Price Could Revisit 0.037BTC Vs Bitcoin

27 Sep Ethereum Price Could Revisit 0.037BTC Vs Bitcoin

Posted at 17:53h in Ethereum News by

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eth btc

Ethereum price remained supported above the 0.0300BTC level against bitcoin. ETH/BTC could trade higher in the short term towards 0.0370BTC.

Important points

  • Ethereum is holding important supports at 0.0320BTC and 0.0300BTC.
  • There is a key contracting triangle formed with resistance at 0.0345BTC on the 4-hours chart of ETH/BTC.
  • ETH price is likely to break higher towards the 0.0360BTC and 0.0370BTC levels in the near term.

Ethereum price analysis [ETH/BTC]

After trading above the 0.0370BTC level, Ethereum price started a downside correction versus bitcoin. ETH to BTC declined below the 0.0350BTC and 0.330BTC levels before buyers appeared near 0.0320BTC.

The 4-hours chart of ETH/BTC indicates that the price traded as low as 0.0319BTC and settled below the 50 simple moving average (4-hours). Later, the price started consolidating losses and it is currently trading above 0.0320BTC.

ETH BTC
Chart sourced by TradingView, Bitfinex

Besides, the price is trading above the 23.6% Fibonacci…

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