Ethereum ‘on the verge of going parabolic’ against Bitcoin as analysts assess BTC bear case – .

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Ethereum ‘on the verge of going parabolic’ against Bitcoin as analysts assess BTC bear case – .


Ethereum’s Ether Token (ETH) is set to launch a “parabolic” attack on BTC to break all-time highs, analyst says.

2 weeks predict a ‘crazy’ ETH movement

1 month ETH / BTC candle chart (Bitstamp). Source: TradingView

Data from Cointelegraph Markets Pro and TradingView shows ETH / BTC is near three-year highs, but its next move should be even stronger.

Ethereum vs. Bitcoin is one of the few bullish narratives in the short-term crypto markets this month.

In a tweeter On December 3, the popular Galaxy Twitter account bolstered the bullish forecast for the largest altcoin, even suggesting that ETH / BTC is poised to eclipse its already strong performance with a vertical move.

“I’ve waited and publicly listed ETH / BTC on the big picture for years, and now we’re finally here,” he told his followers alongside a predictive chart.

“$ ETH is about to go into parabolic mode. Wait until you see how crazy things are. “

2 week ETH / BTC annotated candle chart (Binance). Source: Galaxy / Twitter

ETH / BTC hit 0.085 this week, its highest since a brief spike in May of this year. Beyond that, only 2018 stands in the way of new all-time highs, with that year nonetheless seeing a significantly higher cap of up to 0.15 on some stock exchanges.

In terms of the USD, the picture is equally promising, with Ethereum setting repeated new highs in early November and globally remaining below 20% of $ 5,000 since then.

“In theory, this should be the part where if the force continues, we see this strong structure-based race,” his fellow trader Pentoshi tweeted as part of separate comments on Ethereum Friday.

While not everything suggests a drop from the $ 5,000 level, ETH / USD was trading at around $ 4,550 at the time of writing.

1-day ETH / USD candle chart (Bitstamp). Source: TradingView

Old bitcoin hands twist bull case

For Bitcoin, meanwhile, the mood remains conservative.

Related: The Victory Is Up For The $ 950 Million Bitcoin Options Expiration On Friday

After several weeks of disappointing price performance, analysts are starting to give more credit to “bearish” theses, while remaining ostensibly bullish on BTC.

As Cointelegraph reported, on-chain measures are also of little concern, but small clues, such as long-term holder’s selling activity, indicate a decrease in conviction.

Sentiment, which has moved into “neutral” territory this week, is now back in the “fear” zone, with the Crypto Fear & Greed Index measuring 31/100.

Crypto fear and greed index. Source: Alternative.me



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