ETH/BTC Ratio: Bullish Divergence Invalidated as Higher Low Formed
CryptoNewsTerminal Staff16 Sep, 2024
ETH/BTC Ratio: Bullish Divergence Invalidated as Higher Low Formed
ETH/BTC, the ratio of Bitcoin price to Ethereum price, has recently formed a higher low on the daily Binance timeframe, invalidating the previous bullish divergence. As per crypto analyst Michaël van de Poppe, to reclaim the uptrend, the ratio needs to reclaim the 0.041 level. In response, crypto analyst and trader Ali Martinez highlighted ETH's key support zone between $2,290 and $2,360, where approximately 1.9 million addresses hold 52.3 million ETH. A break below this support could lead to a further drop in ETH's price towards $1,800.
