Ethereum's native token, Ether (ETH), has printed a death cross technical pattern versus Bitcoin (BTC) for the first time since May 2022, suggesting more pain ahead for ETH/BTC in the coming weeks.
A death cross appears when an asset's short-term 50-period moving average moves below its long-term 200-period moving average. Such a chart pattern was seen in December 2007, foahead of the global economic crisis.