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Ethereum outperforming Bitcoin means this for the rest of the market
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The onset of December saw both top coins’ trajectories pick up pace, after a rather laid-back November. Bitcoin saw over 4% gains while Ethereum shot up by over 10% over the last two days taking the market by surprise. This, however, wasn’t the first time Ethereum outperformed BTC and other major alts.
The top altcoin on a wave of renewed anticipation saw a clear break above the $4,200 resistance zone and the 100 hours simple moving average on 29 November. This breakout above the bearish trend line and a major resistance near $4,205 on the hourly chart pushed ETH’s price up.
Source: Trading View
Further, the asset’s price was in a descending channel, as seen above, which presented strong support at $3,960 for ETH. Ethereum’s over 5% jump on
Read more on ambcrypto.comAbout this in other media
Bitcoin holds $50K as analyst says weekly timeframes confirm bull market remains intact cointelegraph.com /2 years ago
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Here’s why analysts expect ‘choppy’ Bitcoin price action between $42K and $53K cointelegraph.com /2 years ago
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