ETH/BTC Analysis: Ethereum Price Could Dive To 0.0295 Vs Bitcoin

Ethereum price declined below the 0.0342BTC support against bitcoin. ETH/BTC moved into a bearish zone and it could accelerate towards 0.0295BTC.

Important points

  • Ethereum is under a lot of pressure below the 0.0330BTC support level.
  • ETH/BTC broke a crucial breakout pattern with support at 0.0341BTC on the 4-hours chart of ETH/BTC.
  • ETH price is at a risk of more losses towards the 0.0300BTC and 0.0295BTC supports.

Ethereum price analysis (ETH/BTC)

In the last analysis, we discussed that Ethereum price is at a risk of more downsides below the 0.0350BTC support versus bitcoin. ETH to BTC did move down and broke a few important supports near the 0.0340BTC and 0.0330BTC levels.

The 4-hours chart of ETH/BTC indicates that the price faced a fresh round of selling after it broke the 0.0350BTC support and the 50 simple moving average (4-hours).

Chart sourced by TradingView, Bitfinex

There was a downside break below the 50% Fibonacci retracement level of the last leg from the 0.0319BTC…

Read Full Story : Coingape

2018-10-11 13:28:59

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