Ethereum is approaching the key price level in Bitcoin that last time triggered a 450% gain. The current price setup of ETH against Bitcoin closely resembles 2019, with an oversold RSI and prolonged weakness below key moving averages after a multi-year decline.
Ethereum is approaching the key price level in Bitcoin that last time triggered a 450% gain.
Market Analysis
The Ether token
ETH
1616 €
of Ethereum is approaching a critical price zone against Bitcoin
BTC
84.403 €
, which historically marked the beginning of a massive rebound.
The price fractal of ETH since 2019 hints at a bottom.
The ETH/BTC pair, which is currently trading near 0.019 BTC, is approaching 0.016 BTC, the exact level it reached in September 2019 before surging nearly 450% over the following year.