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Ethereum eyes rally against Bitcoin, with ETH price showing hidden bullish divergence
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Ethereum’s native token, Ether (ETH), has been declining against its top crypto rival, Bitcoin (BTC), since Sept. 3.
Ether dropped in value against Bitcoin by almost 25% after topping out in September at 0.07955 BTC. As the top altcoin declined, it left behind a trail of lower highs and lower lows, thus forming an ascending channel.
Later, ETH/BTC broke the channel to the upside on Saturday, raising anticipations about a strong extended recovery trend. But a selloff on Sunday and the ongoing session had traders test the channel’s resistance trendline as support.
The sentiment raised Ether’s possibility to reenter the falling range as shown in the chart below.
At the same time, the formation of higher highs in ETH/BTC’s daily commodity channel
Read more on cointelegraph.comAbout this in other media
Bitcoin and Ethereum Correct Gains, Major Altcoins Turn Red cryptonews.com /2 years ago
Livepeer, Loopring and Keep3rV1 rally while Bitcoin tests underlying support cointelegraph.com /2 years ago
Ethereum 2.0 node count drops to a one-month low as ETH price climbs to new heights cointelegraph.com /2 years ago
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