Daily ETHBTC Update
ETH is showing new strength over BTC. We can see in the chart that ETH has been in a consolidation phase with BTC since its high back in May of this year. If we see a break of this consolidation to the upside the measured move will take us all the way up to the 1.414 Fib level at 0.13 BTC. In relative terms that would mean if BTC were to double in value then ETH would 4X. So if BTC was to move from 60K up to 120K, then ETH would go from 4.5K to 13.5K.
Currently, we are still in the consolidation zone and we can expect resistance as we approach the upper trend line. RSI is rising to support the upward move but volume is still low. We'll need to see volume increase if we are to see a breakout to higher levels.
Currently, we are still in the consolidation zone and we can expect resistance as we approach the upper trend line. RSI is rising to support the upward move but volume is still low. We'll need to see volume increase if we are to see a breakout to higher levels.
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Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.