Historically Accurate Analyst Thinks Ethereum Will Slide Lower

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Ethereum has strongly outperformed Bitcoin over the past few months. The leading altcoin has pushed higher on the back of an influx of buying demand due to trends in the decentralized finance space, along with investors realizing that it was relatively undervalued to BTC. This rally allowed the Ethereum-to-Bitcoin pair to push higher, meaning that each ETH bought users more BTC. The pair gained around 70% from the lows of June to the highs in August. While some think that this performance is a precursor to a macro rally where Ethereum will begin to encroach on Bitcoin’s market share, short-term downside is expected. Ethereum Set to Slide Lower, Analyst Asserts One crypto-asset trader recently noted that the asset is not looking good against Bitcoin due to the formation of “consistent lower lows and lower highs.” This trend suggests that the coin will soon plunge by 10-20% against Bitcoin: “ethbtc defo…

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