Ether could continue to outperform bitcoin in the near-term, the latest bullish setup on ether-bitcoin ratio's technical chart suggests. Reports godbole17
The ether-bitcoin ratio could rally toward a two-month high, according to Lewis Harland, a portfolio manager at Decentral Park Capital.
That's because the ratio has broken out of a multi-month triangle pattern, often called a wedge, indicating a bull victory in the prolonged tug-of-war with bears. "ETH/BTC has broken out of its multi-month wedge to the upside," Harland told CoinDesk, adding that the breakout has opened the doors for a rally toward the early December high of 0.07636 and early November highs near 0.078.The chart shows ether-bitcoin ratio has blasted through the upper end of the three-month triangle or wedge identified by trendlines connecting highs registered in September, October and December and lows hit in October, November and December.
Triangles occur when both bulls and bears are unwilling or unable to lead the price action, leading to volatility compression. Hence, an eventual breakout or breakdown often brings a big bullish or bearish move."It may be we see a 'bears in disbelief' rally for ETH over the coming weeks," Harland said, citing Ethereum's impending
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