BitcoinShort
Ether's BTC-Denominated Price Flirts With 9-Year-Long Trendline
Ether's and bitcoin-denominated market price, the ETH/BTC ratio, is flirting with a bullish trendline drawn from 2016 and 2017 lows, offering hope to bulls on the second-largest cryptocurrency by market cap. Since January, the trendline has consistently restricted the pair's downside in a pattern reminiscent of 2019-20. Back then, it served as an accumulation zone, eventually leading to a renewed bull market in the first half of 2021, as shown by a chart sourced from TradingView. A monthly chart of moving average convergence divergence (MACD) histogram, an indicator used to gauge trend strength and changes, favors
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.