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ETH/BTC Exchange Rate Shows Bullish Patterns Indicating Potential Rise
According to BlockBeats, analysts have identified bullish patterns in the ETH/BTC exchange rate, suggesting a potential increase of 30% to 55%. The formation of a 'cup and handle' and a 'bull flag' pattern indicates a possible surge if the exchange rate surpasses a critical resistance level. This could trigger a significant altcoin season similar to those in 2017 and 2021.From a technical analysis perspective, if the ETH/BTC rate breaks through the neckline at 0.02596, the target price could reach 0.03814, representing a potential 55% increase. This target aligns with the resistance level projected for December 2024. The anticipated time frame for this potential rise is by July.
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