RATE Group | Ethereum Breached Crucial Resistance, Setting the Stage for a 15-20% Rally: Analyst
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Ethereum Breached Crucial Resistance, Setting the Stage for a 15-20% Rally: Analyst

24 May Ethereum Breached Crucial Resistance, Setting the Stage for a 15-20% Rally: Analyst

Posted at 07:31h in Cryptocurrency News by

It’s been a rocky past few days for Bitcoin, Ethereum, and other top cryptocurrencies. From the monthly highs against the dollar, most digital assets are down 10%.

But when measuring the performance of some cryptocurrencies against Bitcoin, some investments are outperforming. Ethereum is a perfect case in point, which has rallied 10% against BTC over the past nine days.

Chart from TradingView.com of ETHBTC’s price action over the past few weeks. The trading pair is up 10% in the past nine days or so.

Analysts say this is a precursor is a performance to even greater gains, though there still exists a risk of a medium to a long-term decline in the broader altcoin market, which would likely threaten ETH.

Ethereum Poised to Rally Against Bitcoin, Analysts Say

Luke “Venture Coinist” Martin — a prominent cryptocurrency trader and podcaster — suggested this week that ETHBTC is subject to rally even further in the coming days.

He shared the chart below, which indicates that amid the…

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