Ether and BCH/BTC Break Downtrends as DOGE, SHIB Show Bullish Signals
Traders may focus on Ether and the Bitcoin Cash/Bitcoin ratio for potential gains as Bitcoin rallies. Key observations include:
- Ether: Price increased over 8%, breaking a downtrend from December highs of $4,100. Resistance is now between $2,300 and $2,400.
- BCH/BTC Ratio: Increased by 11% this week, indicating expected outperformance of BCH relative to Bitcoin.
- DOGE and SHIB: Market caps rose by 7% and 5%, respectively, showing a "rounding bottom" pattern that suggests bullish market sentiment.
These developments indicate a shift in market trends for these cryptocurrencies.