עטהערעום פּרייַז ריסעס מיט 50% קעגן ביטקאָין אין איין חודש - אָבער עס איז אַ כאַפּן

יטער (עטה), Ethereum’s native token, has been continuing its uptrend against Bitcoin (בטק) as euphoria around its upcoming network upgrade, “די צונויפגיסן,” grows.

ETH at multi-month highs against BTC

On the daily chart, ETH/BTC surged to an intraday high of 0.075 on Aug. 6, following a 1.5% upside move. Meanwhile, the pair’s gains came as a part of a broader rebound trend that started a month ago at 0.049, amounting to approximately 50% gains.

The ETH/BTC recovery in part has surfaced due to the Merge, which will have Ethereum switch from דערווייַז פון אַרבעט (PoW) mining to דערווייַז-פון-פלעקל (פּאָס).

Ethereum’s “rising wedge” suggests sell-off

From a technical perspective, Ether stares at potential interim losses as ETH/BTC paints a convincing רייזינג וועדזש. 

Rising wedges are bearish reversal patterns that occur when the price trends higher inside a range defined by two rising, converging trendlines. As a rule, they resolve after the price breaks below the lower trendline by as much as the structure’s maximum height.

Moreover, a declining volume and relative strength index (RSI) against a rising ETH/BTC further increases bearish divergence risks. This gives weight to the wedge’s bearish setup for a target of 0.064 BTC, or down 11% from today’s price.

Ether looks stronger vs. dollar

Meanwhile, technicals paint a brighter picture for Ethereum against the U.S. dollar. The potential of a 10% breakout for ETH/USD looks strong in August due to a classic bullish reversal pattern.

פֿאַרבונדענע: דיסענטראַלייזד פינאַנצן פייסיז קייפל באַריערז צו מיינסטרים קינדער

On a four-hour chart, ETH/USD has formed what appears to be a “double bottom.” This pattern resembles the letter “W” due to two consecutive lows followed by a change in direction from downtrend to uptrend, as illustrated below.

Meanwhile, a double bottom pattern resolves after the price breaks above its common resistance level and—as a rule of technical analysis—rises by as much as the distance between the first bottom and the resistance. 

As a result, ETH could rally toward $1,940 in August, up 10% from today’s price.

די מיינונגען און מיינונגען וואָס זענען אויסגעדריקט דאָ זענען בלויז די מחבר און טאָן ניט דאַווקע פאַרטראַכטן די קוקן פון Cointelegraph.com. יעדער ינוועסמאַנט און טריידינג מאַך ינוואַלווז ריזיקירן, איר זאָל דורכפירן דיין אייגענע פאָרשונג ווען איר מאַכן אַ באַשלוס.