Ethereum is About to Test a Key BTC Resistance Level; What Analysts are Saying

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Ethereum has finally broken its trend of underperformance against Bitcoin, with the crypto’s recent break above $700 allowing it to gain some ground on the ETHBTC pair This strength does appear to be growing, as the crypto has yet to face any harsh rejection around its recent highs, despite Bitcoin’s potential blow-off top at $28,500 BTC’s ongoing consolidation phase may turn out to be highly bullish for ETH and other altcoins One trader is also pointing to ETH’s reaction to a key resistance level it has formed against Bitcoin, noting that a break above it could result in it seeing serious upside It is in the process of climbing above it, which could mean that upside is imminent today Bitcoin has been rallying in isolation of the entire market over the past few weeks, but this trend is starting to shift as Ethereum flashes mounting signs of technical strength. One…

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