#ETH Bulls up 40% from June Lows, ETHBTC in a Bull Flag
Past Performance of ETHBTC
Ethereum is technically bullish versus BTC, especially if the price action of H2 2022 leads. Presently, Bitcoin prices appear firm but inside a descending wedge, that is, a bull flag. The primary support is at 0.070 BTC, while the resistance is 0.075 BTC.
#ETHBTC Technical Analysis
ETH buyers are in control, per the formation in the daily chart. Despite the series of lower lows, especially in the late Q3 and mainly Q4 2022, the uptrend is firm. To illustrate, ETH is up 40 percent from June 2022 lows. Furthermore, ETH bulls have support at around the 38.2 percent Fibonacci retracement levels meaning the upside momentum is still strong. However, from the current formation, traders can wait for a clean breakout before committing. Gains above 0.073 BTC, reversing losses of December 16, above the bull flag, may see ETH float higher, towards 0.075 BTC and 0.078 BTC, respectively.
What to Expect from #ETHBTC?
Prices are in range, trading inside a bull flag. Overall, buyers are in charge, but there must be a breakout for trend confirmation. Any surge above 0.075 BTC may drive more demand for ETH, pumping it to Q3 2022 highs.
Resistance level to watch out for: 0.075 BTC
Support level to watch out for: 0.070 BTC
Disclaimer: Opinions expressed are not investment advice. Do your research.
Ethereum is technically bullish versus BTC, especially if the price action of H2 2022 leads. Presently, Bitcoin prices appear firm but inside a descending wedge, that is, a bull flag. The primary support is at 0.070 BTC, while the resistance is 0.075 BTC.
#ETHBTC Technical Analysis
ETH buyers are in control, per the formation in the daily chart. Despite the series of lower lows, especially in the late Q3 and mainly Q4 2022, the uptrend is firm. To illustrate, ETH is up 40 percent from June 2022 lows. Furthermore, ETH bulls have support at around the 38.2 percent Fibonacci retracement levels meaning the upside momentum is still strong. However, from the current formation, traders can wait for a clean breakout before committing. Gains above 0.073 BTC, reversing losses of December 16, above the bull flag, may see ETH float higher, towards 0.075 BTC and 0.078 BTC, respectively.
What to Expect from #ETHBTC?
Prices are in range, trading inside a bull flag. Overall, buyers are in charge, but there must be a breakout for trend confirmation. Any surge above 0.075 BTC may drive more demand for ETH, pumping it to Q3 2022 highs.
Resistance level to watch out for: 0.075 BTC
Support level to watch out for: 0.070 BTC
Disclaimer: Opinions expressed are not investment advice. Do your research.
