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Ethereum flashes a classic bullish pattern in its Bitcoin pair, hinting at 50% upside

Cryptocurrency Nov 01, 2022 04:20PM ET
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Ethereum flashes a classic bullish pattern in its Bitcoin pair, hinting at 50% upside
 
ETH/BTC
-0.24%
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BTC/USD
+1.68%
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ETH/USD
+1.34%
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Ethereum’s native token, Ether (ETH), looks poised to log a major price rally versus its top rival, Bitcoin (BTC), in the days leading toward early 2023.

The bullish cues emerge primarily from a classic technical setup dubbed a “cup-and-handle” pattern. It forms when the price undergoes a U-shaped recovery (cup) followed by a slight downward shift (handle) — all while maintaining a common resistance level (neckline).

ETH/BTC weekly price chart featuring a cup and handle. Source: TradingView
ETH/BTC weekly price chart featuring cup-and-handle breakout setup. Source: TradingView
Ethereum supply rate post-Merge. Source: Ultra Sound Money
Ethereum 2.0 total value staked. Source: Glassnode
ETH/BTC weekly price chart. Source: TradingView

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Ethereum flashes a classic bullish pattern in its Bitcoin pair, hinting at 50% upside
 

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Celli ferous
Celli ferous Nov 03, 2022 3:20AM ET
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This could be a great sign. But let’s see how things turn out after the end of this year.
 
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