Ethereum (ETH) Bottom Against Bitcoin (BTC) In? Key Indicators Signal Potential Altcoin Price Rally-web3.0-php.cn

Ethereum (ETH) Bottom Against Bitcoin (BTC) In? Key Indicators Signal Potential Altcoin Price Rally

Jun 18, 2024 pm 09:19 PM

Crypto analyst ParabolicPump has issued a forecast about Ethereum (ETH) and Bitcoin (BTC). According to ParabolicPump, the bottom for ETH/BTC pair is in

Ethereum (ETH) Bottom Against Bitcoin (BTC) In? Key Indicators Signal Potential Altcoin Price Rally

Crypto analyst ParabolicPump believes the bottom for ETH/BTC has been reached, indicating an upcoming breakout that will be bullish for altcoins.

Several key indicators suggest ETH will outshine BTC, followed by most altcoins outperforming ETH.

Crucial levels have been reclaimed by ETH/BTC, trapping bears. The last monthly candle was bullish engulfing at these key levels. This formation indicates a potential trend reversal, marking the end of the downtrend.

Moreover, ParabolicPump anticipates a bullish MACD crossover in the upcoming months. This indicator is expected to bring bullish momentum.

A massive bullish divergence on the RSI is also forming, visible on the weekly chart. This signal is crucial as longer timeframe signals tend to be more reliable, reinforcing the bullish outlook.

Maintaining above the reclaimed key levels is crucial for the bullish scenario to play out. ParabolicPump highlights the importance of not closing below these levels again.

If bulls manage to break and hold above the diagonal trendline, it will confirm the bullish trend, setting the stage for further gains.

Currently, the market sentiment is highly negative, similar to the bottom of the last bear market. This widespread fear, uncertainty, and doubt present a unique opportunity.

News source：https://www.kdj.com/cryptocurrencies-news/articles/ethereum-eth-bottom-bitcoin-btc-key-indicators-signal-potential-altcoin-price-rally.html

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