ETH, BTC Outlook: 3 Charts to Track as Ether Strengthens Against Bitcoin
CoinDesk
Ether is showing relative strength against Bitcoin, prompting analysis of three key charts signaling potential bullish breakouts.Summary
Ether (ETH) is demonstrating unusual relative strength against Bitcoin (BTC) while the broader market faces pressure, causing the ETH/BTC ratio to rise over 2%. Analyst Omkar Godbole highlights three key charts for tracking this trend. First, the ETH/BTC ratio is consolidating within a gentle, counter-trend downward channel; a breakout would signal renewed investor preference for Ether. Second, Ether's dollar price chart also shows a counter-trend channel with signs of seller exhaustion near $3,000, suggesting a potential bounce. Finally, a rally in Ether could catalyze a breakout in the XRP/BTC ratio, which has been consolidating in a four-year range, potentially leading to significant gains for XRP.
(Source：CoinDesk)