Ethereum price rises by 50% against Bitcoin in one month — but there's a catch By Cointelegraph

Ethereum price rises by 50% against Bitcoin in one month — but there's a catch

Cryptocurrency Aug 06, 2022 10:20AM ET

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Ethereum price rises by 50% against Bitcoin in one month — but there's a catch

Ether (ETH), Ethereum's native toke, has been continuing its uptrend against Bitcoin (BTC) as euphoria around its upcoming network upgrade, "the Merge," grows.

On the daily chart, ETH/BTC surged to an intraday high of 0.075 on Aug. 6, following a 1.5% upside move. Meanwhile, the pair's gains came as a part of a broader rebound trend that started a month ago at 0.049, amounting to approximately 50% gains.

ETH/BTC daily price chart. Source: TradingView

ETH/BTC daily price chart featuring "rising wedge'' breakdown setup. Source: TradingView

ETH/USD four-hour price chart featuring "double bottom" breakout setup. Source: TradingView

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Ethereum price rises by 50% against Bitcoin in one month — but there's a catch

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