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Ethereum vs Bitcoin Price Analysis: ETH hits the floor as BTC outperforms

  • ETH/BTC is trading 2.37% lower on Wednesday as BTC outperforms against the rest of its peers.
  • The price has made a lower high and broken through a significant support level.
Ethereum vs Bitcoin Price Analysis: ETH hits the floor as BTC outperforms
Rajan Dhall, MSTARajan Dhall, MSTAFX Daily

ETH/BTC daily chart

Ethereum is breaking lower against the king of digital cryptocurrencies (bitcoin). The price has dropped 2.37% on Wednesday's session alone. The key for the current session was the break of the red trendline at 0.2250. Now to complete the pattern the price would need to break the low just above the 0.0200 psychological zone. This would make a lower high lower low price wave pattern.

Looking at the volume indicator the market seem to be backing this move. The volume steadily increased as the price fell and this is a good sign for the bears. The relative strength index indicator is looking very oversold. This could suggest there is a short term pullback in the making before the underlying trend continues. 

ETH/BTC price chart

Additional levels

ETH/BTC

Overview
Today last price0.02
Today Daily Change0.00
Today Daily Change %0.00
Today daily open0.02
 
Trends
Daily SMA200.02
Daily SMA500.02
Daily SMA1000.02
Daily SMA2000.02
 
Levels
Previous Daily High0.02
Previous Daily Low0.02
Previous Weekly High0.03
Previous Weekly Low0.02
Previous Monthly High0.03
Previous Monthly Low0.02
Daily Fibonacci 38.2%0.02
Daily Fibonacci 61.8%0.02
Daily Pivot Point S10.02
Daily Pivot Point S20.02
Daily Pivot Point S30.02
Daily Pivot Point R10.02
Daily Pivot Point R20.02
Daily Pivot Point R30.02

Author

Rajan Dhall, MSTA

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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