2 Reasons Why ETH Is Bearish Compared To BTC Short-Term
In this ETHBTC chart we see 2 contributing factors:
This suggests ETH will drop short-term against BTC.
Also suggested by ETHUSD (bearish daily) and BTCUSD charts (bullish daily). MaCD on the ETHBTC Weekly is also pushing down.
ETHBTC shows a 13% potential drop to the next level of support.
Whether you are manually trading or making use of algo-assisted signals, learning to observe higher time-frames and comparative charts like BTC.D (bitcoin dominance) and ETHBTC provides very useful insight.
Note: SparksterSignals (including our technical analysis and our algorithmic backtested signals) are not provided as financial advice.
- A horizontal level at 0.04 which price touched a few weeks ago. That level is confirmed resistance.
- There is a clear trading channel since the covid crash low which began the uptrend, which ETH has reached the top of in the past month and failed to break through.
This suggests ETH will drop short-term against BTC.
Also suggested by ETHUSD (bearish daily) and BTCUSD charts (bullish daily). MaCD on the ETHBTC Weekly is also pushing down.
ETHBTC shows a 13% potential drop to the next level of support.
Whether you are manually trading or making use of algo-assisted signals, learning to observe higher time-frames and comparative charts like BTC.D (bitcoin dominance) and ETHBTC provides very useful insight.
Note: SparksterSignals (including our technical analysis and our algorithmic backtested signals) are not provided as financial advice.
