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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

    2.21 Price
    +0.060% 1D Chg, %
    Long position overnight fee -0.0616%
    Short position overnight fee 0.0137%
    Overnight fee time 22:00 (UTC)
    Spread 0.01104

    BTC/USD

    96,063.65 Price
    +0.830% 1D Chg, %
    Long position overnight fee -0.0616%
    Short position overnight fee 0.0137%
    Overnight fee time 22:00 (UTC)
    Spread 50.00

    Gold

    2,616.72 Price
    -0.250% 1D Chg, %
    Long position overnight fee -0.0151%
    Short position overnight fee 0.0069%
    Overnight fee time 22:00 (UTC)
    Spread 0.30

    ETH/USD

    3,340.44 Price
    +1.610% 1D Chg, %
    Long position overnight fee -0.0616%
    Short position overnight fee 0.0137%
    Overnight fee time 22:00 (UTC)
    Spread 1.75

    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
    0.03507 USD
    0.00026 +0.750%

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    The difference between trading assets and CFDs
    The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
    You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
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