Ethereum to Bitcoin is shifting

14 set 2020

A few weeks back during the recent run up I observed that ETHUSD was outperforming BTCUSD. Now in this recent drawdown across the board in cryptocurrency Ethereum has UNDERPERFORMED Bitcoin as evidenced by looking at the ETHBTC. My initial thesis could be wrong about the shift in dominance and in price. The past outsized returns are being shown to be a sign of higher volatility of Ethereum itself. The pair has reached a level of 0.03586 which is made significant by the 50% retracement of the recent down move as well as past price inflection points. I will be looking for it to hold below (bearish) or break above (bullish) to find my sentiment.