Technical Analysis for ETHBTC for 14th April 2023
Ethereum Recovers Versus Bitcoin, Rallying to 0.072 BTC?
Past Performance of ETHBTC
ETHBTC Technical Analysis
Buyers are upbeat, and ETH buyers are in control. The double bar formation of April 12 was capped with rising volumes on April 12. Subsequent gains on April 13 completed the follow-through, suggesting that the reversal is well-anchored. Therefore, per the current formation, any dip above 0.062 BTC may allow bulls to load on dips targeting 0.072 BTC or more if ETH bull bars are with expanding volumes.
What to Expect from ETHBTC
After weeks of lower lows that saw ETH lose roughly 20% versus ETH from January peaks, the trend is reversing. Buyers are now in the driving seat. Every contraction above 0.062BTC may offer entries for optimistic traders angling for March 2023 highs or better.
Resistance level to watch: 0.072 BTC
Support level to watch: 0.062 BTC
Disclaimer: Opinions expressed are not investment advice. Do your research.
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