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Flash Analysis: Ethereum Breaks Out, Bitcoin Lagging Again

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Flash Analysis: Ethereum Breaks Out, Bitcoin Lagging Again

Introduction

This article was posted on Sunday, 16:34, UTC.

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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

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Long-Term Prospects

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!

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Feedback or Requests?

Mate Cser

Mate Cser

Trader and financial analyst, with 10 years of experience in the field. An expert in technical analysis and risk management, but also an avid practitioner of value investment and passive strategies, with a passion towards anything that is connected to the market.

Comments
  • user

    AUTHOR jkhan123

    Posted on 5:12 pm June 4, 2017.

    what are you thoughts on XRP recovering? and soon? they have a few event this week so was thinking it could bounce back

  • user

    AUTHOR MSNP05

    Posted on 7:33 pm June 4, 2017.

    Is it right time to buy more ETH?

  • user

    AUTHOR Ershad

    Posted on 7:35 pm June 4, 2017.

    Thank you for your analysis Mate.

    Could you analyse more altcoins and also tell when are good times to buy/sell as well as predictions.

    Regards,
    Ershad

    PS: thoughts on XRP, where do u see it being in 1 week/month?

    • user

      AUTHOR Mate Cser

      Posted on 5:18 am June 5, 2017.

      Hi Ershad,

      Thanks for the feedback, new altcoin analyses coming up with trade recommendations starting today!
      I will cover XRP in today’s piece!

      • user

        AUTHOR MT73

        Posted on 11:11 am June 5, 2017.

        Great – looking (also) forward to reading it 🙂 Thank you!

  • user

    AUTHOR johnathankelly

    Posted on 9:11 pm June 4, 2017.

    I am long ETH and buying on any dips. Several analysts say it is headed to $500 by Dec and at this pace, it seems to be headed in that direction. Also long Bitcoin. With the adoption by so many countries and Fortune 500 companies, we are just getting started!

    Just started looking at Ripple. It has a great story and problem to solve. Buying as much as I can for now waiting for it to resume its upward surge.

  • user

    AUTHOR aclinch14

    Posted on 10:21 pm June 4, 2017.

    I’m long on ETH and several alt coins.

    I think ETH is the future of crypto.

  • user

    AUTHOR spicyer

    Posted on 3:42 pm June 5, 2017.

    I am Hodling: 30% of my crypto portfolio in BTC, 15% in ETH and the remainder in XMR, FCT, XEM, XRP and Steem Power. Most of these I’ve owned since March/April 2017.

    I appreciate your analysis, I’m looking to get ETH into the number 1 position and am waking up to the fact that everyday I don’t pull the trigger, is one more day behind.

  • View Comments (8) ...
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