Flash Analysis: Ethereum Breaks Out, Bitcoin Lagging Again
ETH/BTC 4-Hour Chart Analysis
Ethereum retained its market leader spot this weekend with Ethereum Classic following in suit, being up by 5% so far today while the other majors are generally drifting lower. ETH almost perfectly followed the trend channel that we have been monitoring in recent days on the Bitcoin pair. The correction that carried the pair back to the key 0.085 level looks to have ended, and ETH/BTC is likely headed for a re-test of the resistance zone near the 0.11 level, while the ETH/USD pair is trading at all-time highs.
ETH/USD 4-hour Chart Analysis
The currency recently crossed the $20 billion mark in market capitalization rising above the 50% of Bitcoin value, reinforcing its second place ahead of Ripple, which has been in a correction for several weeks now. Ethereum is expected to outperform Bitcoin in the coming months as well, with the long-term uptrend handily being intact in the ETH/BTC pair, as Ethereum adoption continues to accelerate.
How about you? How are you positioned with regards to the two biggest coins? Let us know in the comment section!
Featured image from BTC Keychain