ETH/BTC Doesn’t Falter
Despite poor market conditions last week, ETH/BTC is still above its latest trend line break. Price was consolidating within a channel before breaking out. And after breaking through, price came back to re-test the upper trend line — typically a sign of continued strength.
The market seems unsure about which sector/asset to rotate into during this stage of the cycle. BTC is showing signs of life, but the rest of the market isn’t lagging either. For ETH/BTC to continue moving up alongside BTC, ETH will have to outperform BTC — which isn’t unrealistic during late-stage bull markets.