Ethereum Prints Copycat 95% Rally Setup Against Bitcoin
Cointelegraph
ETH/BTC charts suggest a potential 95% rally against Bitcoin if it breaks above the 0.042 BTC neckline resistance.Summary
Ethereum (ETH) is showing signs of a textbook bullish reversal pattern, specifically an inverse head-and-shoulders (IH&S) structure on the ETH/BTC weekly chart, potentially leading to a 95% rally against Bitcoin (BTC). This potential rally targets 0.066 BTC, contingent upon a decisive breakout above the key neckline resistance around 0.042 BTC. A similar pattern preceded a 95% breakout for ETH/BTC between 2019 and 2021. However, this bullish outlook is invalidated if ETH/BTC fails to hold its current consolidation and instead breaks down from a shorter-term bear pennant structure, which would target a move toward 0.024–0.025 BTC.
(Source：Cointelegraph)