The prices of Bitcoin and Litecoin have tremendously increased over the past days. The price of Ethereum is also surging, however, there is no breakout in price. It has maintained fairly good support.
On June 13, the price of ETH surged abruptly and it was expected that it would break the resistance easily.
But, at the same time, the BTC price also increased and dominated the ETH worth and there was a failed retest zone depicted on the chart.
The lower uptrends are not easy to be crossed. The overall crypto-market is showing bullish patterns, and ETH is an important coin of this market that has to compete in order for the survival in this environment.
The ETH/BTC daily analysis shows the RSI is in a holding pattern. Many analysts are predicting any breakout in the price at this point, and their prediction is based on the breakout trend of early May, where the ETH faced similar circumstances.
The weekly ETH/BTC analysis shows a large bullish divergence pattern at the RSI. A reversal to the previous support level can be fatal for the ETH.
The ETH/USD chart shows the same situation as that of the BTC chart analysis, and it seems like the extension of BTC chart. ETH shows the strong and stable pattern for the medium duration but, it shows stronger trends for long-term.
BTC and LTC are leading and are showing better performance in comparison to ETH. But, there are chances of the breakout in the price of ETH in the near future.
Featured Image by Marco Verch