Ethereum’s Ratio Tests Support

eth ratio dec 20 2020 768x483

Ethereum has been struggling against bitcoin as it fails to pass that key resistance line of $700. While bitcoin is up 25% this week, ethereum is up only 14%, with that underperformance against bitcoin continuing since September (pictured above) when ethereum’s ratio was 0.04 BTC. Now it is at 0.027, a significant support line that can best be seen in the long term bitcoin price of eth: Bitcoin has gained significantly against eth since 2017 as can be seen above, with eth trying to come out of it, but it couldn’t overtake resistance in September. Now support is being tested again, with eth’s value falling against bitcoin since November despite the ethereum 2.0 launch. Ethereum’s value has been rising against the dollar, but bitcoin has been leading that charge as it grabs the attention of traditional fund managers who are beginning to diversify into the digital gold. The latest being…

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