Ethereum (ETH) is approaching the level against Bitcoin (BTC) that previously caused significant growth. The ETH/BTC pair is currently trading around the level of 0.019 BTC and is approaching the important level of 0.016 BTC; the same level was seen in September 2019, after which the price of Ethereum rose by about 450% in one year.
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The current conditions for Ethereum, such as the Relative Strength Index (RSI) entering the oversold area, staying for a long time below the moving averages, and the multi-year downward trend, are very similar to those in 2019.
