Is 30% of the collision in relation to Bitcoin?

Etherum Original Token, Ether (El), she fell on his perennial lower than Bitcoin (Btc), encouraging analysts to anticipate further rejects in the coming weeks.

Return return warning requires selling out sales

13. Marta, ETI / BTC Couple monitoring ETRA vs. Bitcoin for over 1.50% to reach $ 0.022, the lowest level of May 2020. Years.

Ethical descent is part of his many years of trend that began when he established a record of $ 0.1556 in June 2017. years. Since then, it submerged more than 85%, increasingly large weaknesses in Etruin from Bitcoin.

Meanwhile, for two weeks Eth / BTC chart, relative power index (RSI), A momentum indicator used to measure whether the property is overpaid or resold, it fell on the record 23.32.

Usually, when the RSI drops below 30, it signals a reversal of the conditions, potentially leading to the price jump.

However, in the case of Ethereum, the RSI continued to try even two months after became resale, suggesting that ETI trennnnd moves and further speeds up, and not stabilizes.

Cripto analyst Alessandro Ottaviani is described Situation as a scenario “Falling knife” – a term used to describe a means of experiencing fast and steep fall, often discourages customers to step prematurely.

The drop-down knife means that trying to catch property in perceived low could lead to additional losses if the last is intruded.

In order to signal the potential turnaround, traders will view the stabilization of RSI and regain the levels of key resistance resistance. This ideally starts jumping from the BTC level of 0.022, which had limited attempts to lower ETI / BTC in December 2020, which led to a rally from 300%.

If a jump occurs, an ETH / BTC pair can be gathered according to a retraction line of 0.382 Fibonacci at about 0.038 BTC, synchronization with a 50-week exponential movable average (50-weekly ema; red wave).

Until then, technical prospects indicates that ETH / BTC could remain trapped in its night track, with the following potential places of the lower side at the levels of historical support within the range of 0.020-0.016 BTC range.

The lowest point of this span is about 30% below current price levels.

ETH / BTC basics support bears

The prospects of the ether to declare further than Bitcoin are rooted in factors outside the technical analysis.

For example, Etherum currently faces strong competition than rival layers-1 blocks, Namely Solana (Salt).

Related: ‘The worst thing that happened to Ethereum ‘- Bitcoin increased by 160% of the merger

Vanberries noted that the solan decentralized disability volume outled Etherum even during the steep fall Memecoin trading activity. Meanwhile, Solana’s quantity continuously rose in recent months, which coincides with falling in Etherum’s quantity.

In addition, the launch of Bitcoin ETFS site is It basically changed the traditional crypto market cycle Which used it is used by Ethereum and other Altcoys.

Historically, after Bitcoin increased, capital rotated in AltCOINS, activating “alsazon“Where ETH and other means surpassed BTC. However, 129 billion inflows in Bitcoin ETFS 2024. It disrupted this cycle, liquidity drying from the wider AllCoin Market – including Etherum.

Another factor is the selling pressure of Etherum.

The Recent Babit Hack It reportedly led to significant ETH liquidations, with one of that value Tryby to over decentralized platforms like Thorchain. This absorbed out of the market can continue to be ripped through the market, depress the relative value.

This article does not contain investment advice or recommendations. Any investment and trade of trading involves risk, and readers should conduct their own research when making a decision.