TRENDING:
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
Login
|

Ethereum vs Bitcoin Price Analysis: ETH hits the floor as BTC outperforms

  • ETH/BTC is trading 2.37% lower on Wednesday as BTC outperforms against the rest of its peers.
  • The price has made a lower high and broken through a significant support level.
Ethereum vs Bitcoin Price Analysis: ETH hits the floor as BTC outperforms
Rajan Dhall, MSTARajan Dhall, MSTAFX Daily

ETH/BTC daily chart

Ethereum is breaking lower against the king of digital cryptocurrencies (bitcoin). The price has dropped 2.37% on Wednesday's session alone. The key for the current session was the break of the red trendline at 0.2250. Now to complete the pattern the price would need to break the low just above the 0.0200 psychological zone. This would make a lower high lower low price wave pattern.

Looking at the volume indicator the market seem to be backing this move. The volume steadily increased as the price fell and this is a good sign for the bears. The relative strength index indicator is looking very oversold. This could suggest there is a short term pullback in the making before the underlying trend continues. 

ETH/BTC price chart

Additional levels

ETH/BTC

Overview
Today last price0.02
Today Daily Change0.00
Today Daily Change %0.00
Today daily open0.02
 
Trends
Daily SMA200.02
Daily SMA500.02
Daily SMA1000.02
Daily SMA2000.02
 
Levels
Previous Daily High0.02
Previous Daily Low0.02
Previous Weekly High0.03
Previous Weekly Low0.02
Previous Monthly High0.03
Previous Monthly Low0.02
Daily Fibonacci 38.2%0.02
Daily Fibonacci 61.8%0.02
Daily Pivot Point S10.02
Daily Pivot Point S20.02
Daily Pivot Point S30.02
Daily Pivot Point R10.02
Daily Pivot Point R20.02
Daily Pivot Point R30.02

Author

Rajan Dhall, MSTA

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

More from Rajan Dhall, MSTA
Share:

Editor's Picks

XRP approaches key support as risk-off sentiment deepens

XRP approaches key support as risk-off sentiment deepens

Ripple (XRP) is trading at $1.06 on Monday, maintaining its position within a broader bearish trend. The token’s technical outlook continues to deteriorate, pressured by declining retail participation. Appetite for risk assets remains lethargic, as reflected in the Fear & Greed Index, which is embedded in the Fear territory at 28.
Crypto Today: Bitcoin, Ethereum, XRP extend decline amid renewed risk-averse sentiment

Crypto Today: Bitcoin, Ethereum, XRP extend decline amid renewed risk-averse sentiment

The cryptocurrency market remains weak on Monday, with Bitcoin (BTC) falling toward the nearest $62,000. Ethereum (ETH) and Ripple (XRP) reflect the sell-off across altcoins, edging lower toward $1,800 and $1.05, respectively. Risk appetite remains subdued, as the Fear & Greed Index holds steady at 28, deep within Fear territory.
The Bitcoin futures yield collapse: Once over 20%, now less than Treasury notes

The Bitcoin futures yield collapse: Once over 20%, now less than Treasury notes

Once a goldmine for carry traders, Bitcoin futures have flipped, consistently underperforming plain‑vanilla U.S. Treasuries every month since February. Carry trades consistently yielded 20% or more across regulated and unregulated crypto exchanges during the 2021 bull market. The strategy involved shorting Bitcoin futures while simultaneously buying a spot exchange-traded fund (ETF).
The crypto market is moving in the opposite direction to equities

The crypto market is moving in the opposite direction to equities

The crypto market’s market capitalisation has fallen by 1% over the past 24 hours, returning to levels last seen in mid-July. The positive momentum the market showed in the first half of last week failed to take hold. Once again, we are seeing a negative correlation with the Nasdaq 100 index, this time in the form of falling cryptocurrencies while shares rise. Could this be becoming the new norm?
Bitcoin: Bulls hold the line

Bitcoin: Bulls hold the line

Bitcoin (BTC) edges slightly lower, trading at $64,300 at the time of writing on Friday but holding firmly above a key support zone. US-listed spot Bitcoin Exchange Traded Funds (ETFs) support BTC as they continued to attract institutional flows through Thursday, pointing to the fourth consecutive week of net inflows.