Technical Analysis for ETHBTC for 26th November 2021
ETH Bulls Ripping Higher above 0.080 BTC, Registers New November Highs
Past Performance of ETHBTC
ETH and BTC are top projects, leading in market cap and activity.
From this coveted class of titans, it appears ETH (altcoins) is winning the battle, given the performance of the past few weeks.
Reading from the ETHBTC price action, ETH bulls are already trending above an important liquidation line.
At this pace, the odds of ETH gaining ground against digital gold while further pushing it to September and Q3 2021 highs remain elevated.
What to Expect of ETHBTC
As per the developments in the daily chart, ETH has the upper hand versus BTC, closing above November 2021 highs.
Based on this, it is highly likely that ETH will continue edging higher over the weekend.
This week, the rejection of lower prices—versus BTC—signals ETH strength. The immediate target is at 0.080 BTC—the Q3 2021 high.
ETHBTC Technical Analysis
Bitcoin might be posting solid gains, but ETH is firmer.
Presently, ETHBTC prices are within a rising channel of the bullish pennant.
Despite the relatively low trading volumes forming a bearish divergence pattern with the ETHBTC price action, ETH buyers are in a commanding position.
Following the bullish breakout on November 25, aggressive ETH traders might position themselves in lower time frames targeting 0.080 BTC.
A close above the rising channel would most likely inject momentum, further driving ETH towards the ultimate buy target at 0.012 BTC in a buy trend continuation pattern.
Resistance level to watch: 0.080 BTC
Support level to watch: 0.070 BTC
Disclaimer: Opinions expressed are not investment advice. Do your research.
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