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    ETH/BTC technical analysis: Ethereum appears more bullish

    By Nathan Batchelor

    16:27, 26 June 2020

    ETH/BTC technical analysis

    Ethereum rose to its highest trading level against Bitcoin since April 2020, as the ETH/USD pair rallied on the cryptocurrency market.

    ETH/BTC technical analysis shows that a bullish reversal pattern is pointing to more upside ahead for the pair. 

    ETH/BTC medium-term price trend

    ETH/BTC analysis  shows that the pair is trading firmly above its key 200-day moving level, as the recent multi-week advance continues.

    The ETH/USD pair has remained well-supported on pullbacks, while the BTC/USD pair continues to fluctuate between the $9,000 to $10,000 levels.

    ETH/BTC analysis

    Looking at the daily time frame, the ETH/BTC pair is currently trading within a symmetrical triangle pattern.

    The price is currently trading towards the top of the triangle pattern, which is located around the $0.0277 level.

    According to the size of the symmetrical triangle pattern the ETH/BTC pair could rally towards the $0.0320 level if a bullish breakout occurs.

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    XRP/USD

    0.53 Price
    -1.220% 1D Chg, %
    Long position overnight fee -0.0753%
    Short position overnight fee 0.0069%
    Overnight fee time 21:00 (UTC)
    Spread 0.01168

    BTC/USD

    64,511.35 Price
    -0.650% 1D Chg, %
    Long position overnight fee -0.0616%
    Short position overnight fee 0.0137%
    Overnight fee time 21:00 (UTC)
    Spread 106.00

    US100

    17,606.80 Price
    -0.420% 1D Chg, %
    Long position overnight fee -0.0262%
    Short position overnight fee 0.0040%
    Overnight fee time 21:00 (UTC)
    Spread 1.8

    ETH/USD

    3,152.99 Price
    -0.910% 1D Chg, %
    Long position overnight fee -0.0616%
    Short position overnight fee 0.0137%
    Overnight fee time 21:00 (UTC)
    Spread 6.00

    ETH/BTC short-term price trend

    ETH/BTC analysis shows that the cryptocurrency has a strong bullish bias while trading above the $0.0245 support level. 

    The four-hour time frame shows that a bullish inverted head-and-shoulders pattern will form if the price reaches the $0.0278 level.

    ETH/BTC analysis

    According to the size of the bullish pattern, the ETH/BTC pair could rally towards the $0.0320 area.

    Watch out for a strong upside breakout in the ETH/BTC pair if the price moves above the neckline of the pattern, which is currently located around the $0.0280 level.

    ETH/BTC technical summary 

    ETH/BTC analysis suggests that further short- and medium-term gains for the pair appear likely. A rally towards the $0.0320 level may be on the horizon.

    Markets in this article

    ETH/BTC
    Ethereum / Bitcoin
    0.04915 USD
    -0.00012 -0.250%

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