TCR TOP STORIES
Home / Ethereum Price Analysis / Bitcoin’s insane high ended up effecting Ethereum price terribly

Bitcoin’s insane high ended up effecting Ethereum price terribly

Ethereum, one of those rare Altcoins that have made it big in the crypto market in the present scenario, is perhaps going through a terribly bearish trend.

One can never deny the fact that Ethereum has shown up one of its best performances this year and gave a tough competition to other altcoins. However, the ETH price doesn’t seem to gain momentum since the incredible highs of Bitcoin.

The present market witnessed a major downtrend channel forming with resistance at 0.0280BTC. This was noted from the 4-hour chart of the ETH/BTC pair.

Well, as far as the analysts’ opinions are concerned it is firmly believed that the ETH/BTC pair remains in a really strong downtrend and therefore might even trade below the 0.0280BTC mark.

PRICE ANALYSIS OF ETH

Since its already known that the insane high of Bitcoin as it crossed the $11,000 ended up affecting many altcoins. Unfortunately, it turns out that Ethereum is also one of those Altcoins.

Therefore, not only a bearish move was observed in ETH to BTC but also a sharp decline below the key 0.0300BTC support area.

Speaking about the future of ETH, if it fails to overcome this downtrend and climb above the 0.0280 level against Bitcoin, there is a high probability that the firm will come across more losses.

  • 1
    Share

About Zaryab Afser

A stock market trader, a blogger , a cryptocurrency enthusiast ... Awareness of proper trend and Action at the correct time are the 2 most imperative tools to succeed in the crypto world. He will undoubtedly provide you with the first tool. Moreover he ensures that his readers never miss any data or news of the crypto world that might end up shifting your trade to the zenith of its glory. Cheers.

Check Also

Ethereum (ETH) Price Analysis: ETH is expected to show a revival soon

Post Views: 87 There is a common concept in the crypto market that is same …

Leave a Reply

Your email address will not be published. Required fields are marked *

Please wait...

Subscribe to our newsletter

Want to be notified when our article is published? Enter your email address and name below to be the first to know.
Skip to toolbar