ETH/BTC Analysis: Ethereum Price Remains Buy On Dips Vs Bitcoin
Ethereum price started a solid upward move above the 0.0318BTC resistance against bitcoin. ETH/BTC is currently correcting lower, but dips remain supported near 0.0325BTC.
- Ethereum price broke a crucial resistance near 0.0318BTC to move into a bullish zone.
- ETH/BTC remains supported on dips near 0.0325BTC and a bullish trend line on the 4-hours chart.
- ETH price is likely to bounce back sooner or later above the 0.0340BTC resistance.
Ethereum Price Analysis (ETH/BTC)
In the last analysis, we discussed a crucial resistance near 0.0316BTC and 0.0318BTC in Ethereum price versus bitcoin. There was a nice upward move recently and ETH to BTC broke both resistance and then 0.0320BTC to move into a bullish zone.
The 4-hours chart of ETH/BTC indicates that the price formed a solid support near the 0.0310BTC and later started a bullish wave. The price settled above the 0.0318BTC and 0.0320BTC resistance levels plus the 50 simple moving average (4-hours).
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