What's wrong with ETH?
A lot of people are asking is Ethereum lagging behind Bitcoin, as Bitcoin continues to rally up? The short answer is NO....
As I mentioned in my BTC analysis (link below), Bitcoin is heading toward 1.618% Fib Extension, a major resistance. However, as you see in my 4h chart here, note that Ethereum already tested that major resistance (1.618% Fib Extension) back in August, which was at $404 and currently holding above this level. So in my opinion, ETH acted as a leading indicator for BTC and it is NOT lagging behind BTC.
If ETH manages to break through $480, I anticipate a strong rally up to $530... However, if not successful, and BTC reaches its target and starts the correction, it will take ETH down with itself as well..... so trade ETH carefully here....
As I mentioned in my BTC analysis (link below), Bitcoin is heading toward 1.618% Fib Extension, a major resistance. However, as you see in my 4h chart here, note that Ethereum already tested that major resistance (1.618% Fib Extension) back in August, which was at $404 and currently holding above this level. So in my opinion, ETH acted as a leading indicator for BTC and it is NOT lagging behind BTC.
If ETH manages to break through $480, I anticipate a strong rally up to $530... However, if not successful, and BTC reaches its target and starts the correction, it will take ETH down with itself as well..... so trade ETH carefully here....
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