Powered by

Artificial Intelligence

Ether Upside Strengthens Relative to Bitcoin

Ether (ETH) broke out of a two month consolidation relative to bitcoin (BTC) last week. The ETH/BTC ratio is holding support above 0.05 and could face initial resistance near 0.08.

Ether’s outperformance could signal growing interest beyond bitcoin given the appeal of decentralized finance (DeFi) and the Ethereum blockchain’s latest network update known as the London hard fork.

The chart below shows ETH/BTC’s long-term ascending channel, which provided strong support over the past two years.

Despite ether’s underperformance relative to bitcoin during the 2018 crypto bear market, the second largest cryptocurrency has maintained an uptrend that began in 2016. 

Source: CoinDesk

Source: CoinDesk

Tags

Share this post:

Leave a Reply

Stay Connected
Category

To stay on top of the ever-changing world of cryptocurrency, subscribe now to our newsletters.

Subscribe To Our Weekly Newsletter

Get notified for our latest news
We’ll never spam your inbox

At Upshot Firm, we can help your business automate using latest technologies, like New Website Development, Applications (Apps) Creation, Blockchain Integration, Artificial Intelligence (AI) process managment. We also have experience in Smart Marketing and have access to influencer.