{"id":110313,"date":"2020-11-11T19:01:27","date_gmt":"2020-11-11T16:01:27","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/did-ethereum-just-bottom-vs-bitcoin-this-is-the-last-big-hurdle-before-600\/"},"modified":"2020-11-11T19:01:27","modified_gmt":"2020-11-11T16:01:27","slug":"did-ethereum-just-bottom-vs-bitcoin-this-is-the-last-big-hurdle-before-600","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/did-ethereum-just-bottom-vs-bitcoin-this-is-the-last-big-hurdle-before-600\/","title":{"rendered":"# Did Ethereum just bottom vs. Bitcoin? This is the last big hurdle before $600"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3df84502e52\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3df84502e52\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/did-ethereum-just-bottom-vs-bitcoin-this-is-the-last-big-hurdle-before-600\/#ETHUSD_must_break_resistance_at_450_to_break_out\" >ETH\/USD must break resistance at $450 to break out<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/did-ethereum-just-bottom-vs-bitcoin-this-is-the-last-big-hurdle-before-600\/#ETHBTC_finds_the_bottom\" >ETH\/BTC finds the bottom?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/did-ethereum-just-bottom-vs-bitcoin-this-is-the-last-big-hurdle-before-600\/#Bitcoin_dominance_is_rising\" >Bitcoin dominance is rising<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/did-ethereum-just-bottom-vs-bitcoin-this-is-the-last-big-hurdle-before-600\/#Buy_the_dip_if_ETH_drops_to_350\" >Buy the dip if ETH drops to $350?<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Did Ethereum just bottom vs. Bitcoin? This is the last big hurdle before $600 <\/strong>&#8221;<\/p>\n<div data-v-5a136f3a=\"\">All eyes have been on Bitcoin price in recent weeks as the world&#8217;s biggest cryptocurrency rallied by more than 60% in a matter of weeks. <\/p>\n<p>However, the focus may soon shift to Ethereum&#8217;s Ether (ETH) as it <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roaches the final resistance zone before a big potential breakout. This is not only the case with the U.S. dollar pair but also with the Bitcoin (BTC)\u00a0pair, as the latter may have just reached its cycle low. <\/p>\n<p>Could this mean that there\u2019s an alt season on the horizon? The signals are certainly getting stronger by the day. Let&#8217;s take a looks at the charts.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"ETHUSD_must_break_resistance_at_450_to_break_out\"><\/span>ETH\/USD must break resistance at $450 to break out<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2020-11\/307b73bf-b4d9-4f51-94c8-5bfb4f81de5a.png\"\/><figcaption style=\"text-align: center;\"><em>ETH\/USDT 1-week chart. Source: <\/em><a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/x\/XfRhaOrC\/\"><em>TradingView<\/em><\/a><\/figcaption><\/figure>\n<p>The weekly chart of Ether is fighting the final massive resistance zone before $600, with $800 on the horizon thereafter.<\/p>\n<p>This resistance zone was rejected heavily in the summer, after which a retest of the $300 area occurred. This support level has held, which means that a retest of this resistance area is now on the table.<\/p>\n<p>As stated, Ether\u2019s price made a new higher high, after which the $310 support\/resistance flip warranted a higher low. This indicates a bullish uptrend, where further continuation to $800 may just be a matter of time.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"ETHBTC_finds_the_bottom\"><\/span>ETH\/BTC finds the bottom?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2020-11\/cc39c445-d274-4c90-8371-3a9ee10cb341.png\"\/><figcaption style=\"text-align: center;\"><em>ETH\/BTC 1-week chart. Source: <\/em><a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/x\/e3nTEEza\/\"><em>TradingView<\/em><\/a><\/figcaption><\/figure>\n<p>The weekly chart for ETH\/BTC, however, shows a clear rejection at the 0.04 sats resistance. This rejection marks the high of the current range. Through this mark, a retest of the 0.026 sats area was the likely outcome.<\/p>\n<p>Therefore, traders should have anticipated such a retest because such levels are often retested before confirmation of a breakout. And because quarter four isn\u2019t the best period for altcoins, Ether might be close to finding a bottom in the BTC pair.<\/p>\n<p>In that regard, the vertical lines mark the bottom of previous retraces, which all bottomed out in December. <\/p>\n<p>In other words, the retrace may be coming to an end if history repeats itself once more, which means the next alt season could occur in the first quarter of 2021 and bring Ether closer to $800.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Bitcoin_dominance_is_rising\"><\/span>Bitcoin dominance is rising<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2020-11\/84bc8203-49ee-490e-a596-31d0aa332bcf.png\"\/><figcaption style=\"text-align: center;\"><em>BTC Dominance 1-week chart. Source: <\/em><a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/x\/ajeVr8v2\/\"><em>TradingView<\/em><\/a><\/figcaption><\/figure>\n<p>The weekly Bitcoin dominance chart has been showing a clear rally in the past few months. Several arguments can be made for this surge. <\/p>\n<p>One of them is the historical and cyclical pattern, during which altcoins tend to underperform in the fourth quarter of the year.<\/p>\n<p>Bitcoin now being in the spotlight is another argument. With price now just 20% shy of its all-time high in 2017, alongside increasing acceptance by institutions and <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-may-pay-out-more-than-gold-says-billionaire-investor\" data-amp=\"https:\/\/cointelegraph-com.cdn.ampproject.org\/c\/s\/cointelegraph.com\/news\/bitcoin-may-pay-out-more-than-gold-says-billionaire-investor\/amp\">big-name investors\u00a0revealing that they hold BTC, Bitcoin is solidifying its brand as the king of cryptocurrencies. <\/p>\n<p>However, the resistance zone around 66% to 68% is unlikely to break further up, as the market is currently seeing a support\/resistance flip here. The Bitcoin dominance was already rejected once at this resistance zone.<\/p>\n<p>If history repeats, a drop toward 56% to 57% is very likely to occur for Bitcoin dominance, which would be a very bullish sign for altcoin traders. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"Buy_the_dip_if_ETH_drops_to_350\"><\/span>Buy the dip if ETH drops to $350?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2020-11\/8eb9b50c-20c3-4117-888a-55ecb3c3157c.png\"\/><figcaption style=\"text-align: center;\"><em>ETH\/USDT 1-day chart. Source: <\/em><a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/x\/s595mPaI\/\"><em>TradingView<\/em><\/a><\/figcaption><\/figure>\n<p>However, traders shouldn\u2019t become too bullish at resistance, which is where Ether is at right now. A correction is likely, given that the Fear &amp; Greed Index is currently showing &#8220;extreme greed,&#8221; comparable to the levels seen at the peak high of June 2019.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"\/><\/p>\n<p>If such a correction occurs, levels around $320 to $340 may be a great opportunity to enter an ETH position. <\/p>\n<p>If Ether establishes support at that range and starts to attack the resistance at $460 to $480 again, a massive breakout and impulse wave toward $800 would be a very likely outcome. <\/p>\n<p><em>The views and opinions expressed here are solely those of the <\/em><a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/twitter.com\/cryptomichnl?lang=en\"><em>author<\/em><\/a><em> and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.<\/em><\/p>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener noreferrer\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/did-ethereum-just-bottom-vs-bitcoin-this-is-the-last-big-hurdle-before-600\" target=\"_blank\" rel=\"noopener noreferrer\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Did Ethereum just bottom vs. Bitcoin? This is the last big hurdle before $600 &#8221; All eyes have been on Bitcoin price in recent weeks as the world&#8217;s biggest cryptocurrency rallied by more than 60% in a matter of weeks. However, the focus may soon shift to Ethereum&#8217;s Ether (ETH) as it approaches the&#8230;<\/p>\n","protected":false},"author":1,"featured_media":110314,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2020-11\/eff4a3c9-06f0-4cdc-8c53-50ffb6b2eb1e.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74891,74938,74939,73785],"class_list":["post-110313","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-ethereum","tag-ethereum-price","tag-market-analysis","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/110313","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=110313"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/110313\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/110314"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=110313"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=110313"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=110313"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}