The ETH/BTC pair beats moving average and points up to fresh highs

MACD indicator supports ETH/BTC bullish continuity.
Taking long positions in this pair is a common method of accumulating Bitcoins at a lower cost.

Tomas Salles FXStreet

The ETH/BTC pair has surpassed the EMA50 in the last few minutes and it is now at the price level of 0.02082.

At the 0.021 level, there is a firm price resistance that limits the rise for now. The ETH/BTC pair has options to overcome this strong resistance level and could move quickly towards the 0.022 level. By doing so, it would continue with the Ethereum's valuation improvement against Bitcoin.

The ETH/BTC managed to break a long bearish trend in early September. This pair is a benchmark for the health status of the Altcoin segment versus King Bitcoin.

Author

Tomas Salles

FXStreet

Tomàs Sallés was born in Barcelona in 1972, he is a certified technical analyst after having completing specialized courses in Spain and Switzerland.

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