– Ethereum 150% Surge Against Bitcoin Stalls After 40 Days – ETH/BTC Ratio Stagnation Raises Concerns for Altcoin Market Stability
Ethereum's impressive 150% increase against Bitcoin has stalled, with the ETH/BTC ratio stagnant for 40 days. This pause raises concerns about altcoin market stability as euphoria fades.
Potential Accumulation Phase for Ethereum?
- The momentum behind altcoins has weakened due to the stagnation of ETH/BTC.
- Daan Crypto Trades notes this could be a healthy correction, suggesting it's beneficial for BTC to absorb bid and liquidity.
- The ETH/BTC ratio is in "no man's land," with key levels at 0.041 and 0.032 being critical for renewed interest.
- ETH's performance against BTC remains crucial for the altcoin market and BTC dominance trends.
Reversal Signals on the 4-Hour Chart
- GeoMetric indicates a market reversal based on signals from his Gaussian Breakout screener.
- BTC, ETH, and most altcoins have broken out of their Gaussian channels on the 4H chart.
- BTC is showing bullish signs across major time frames, except for the 3-day chart.
- This comes after a challenging period marked by liquidations and negative sentiment.
