Ethereum
Technical Analysis Shows It Will Surpass Bitcoin in Coming Days, Trader Says — TradingView News
Leading Crypto Analyst Crypto capo shared his analysis of Ethereum And the ETH/BTC pairsuggesting Ethereum and altcoins could outperform Bitcoin in the coming days.
What happened: Capo highlighted that Ethereum saw a “nice rebound from the support zone,” with the lower time frame (LTF) looking promising for a bullish continuation. He noted that a reversal of the $3,300 level would provide another bullish confirmation of rising prices, potentially leading to a new all-time high for ETH.
Nice bounce from the support zone. Ltf looks promising for a bullish continuation, and a reversal of the $3,300 level would be another bullish confirmation of higher price action, potentially a new ATH.
As published the other day on TG, the ETH/BTC pair is also looking… pic.twitter.com/PtWetyiq4V
Furthermore, Capo highlighted the strength of the ETH/BTC pair: “The ETH/BTC pair also looks good, so I think ETH and altcoins will outperform BTC in the coming days. »
Price Action: At the time of writing, BTC was trading at $64,076, down 0.2% in the last 24 hours, while ETH was down 1.8% at 3,100, $3.
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Read also: Is Now the Time to Buy Altcoins? Crypto Researcher Sees These “Top 2 Options”
Why is this important: Capo cites the approval of Ethereum ETFs as the next upcoming event that could serve as a narrative for Ethereum’s progression. The decision, expected by May 23, will make the second-largest cryptocurrency more accessible to institutional investors.
However, Bloomberg ETF analyst James Seyffart recently expressed skepticism, stating that 2025 is more likely when the Ethereum ETF will be approved. Crypto analyst Michael van de Poppe said that while approval of the Ethereum ETF will likely be delayed, the underlying ecosystem is resilient.
And after: Ethereum’s influence as an institutional asset class is set to be explored in depth at Benzinga’s upcoming Future of Digital Assets event on November 19.
Read next: Unlike the case with Bitcoin, Ethereum ETF’s chances of approval are slim, says crypto analyst, but ‘people underestimate the strength’ of the ETH ecosystem
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