RATE Group | Ethereum Unlikely to Rally Against Bitcoin Unless Key Resistance Clears
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Ethereum Unlikely to Rally Against Bitcoin Unless Key Resistance Clears

02 Nov Ethereum Unlikely to Rally Against Bitcoin Unless Key Resistance Clears

Posted at 23:04h in Ethereum News by

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Ethereum Still in Bear Territory 

Ethereum hasn’t been doing too hot right now. As can be seen in the chart below, ETH has absolutely plummeted against Bitcoin over the past year and a half, failing to match to BTC’s price action.

Some, however, have suggested that the bear trend is getting exhausted, especially seeing that the ETH/BTC pair is down by over 80% since its all-time high in early-2018, when Ethereum was changing hands for $1,400. This seems to be the case; ETH just surged 20% off its lows in September and seems to be building an uptrend.

Yet, the analyst below has said that until ETH/BTC breaks above the 0.0240 BTC level, there is “literally no hope for ETH to outperform Bitcoin.”

ETH/BTC may still seem to be in a harrowing position, but the U.S. dollar pair is purportedly building strength.

Brave New Coin’s…

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