{"id":139287,"date":"2020-12-22T18:30:00","date_gmt":"2020-12-22T15:30:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/ethereum-vs-bitcoin-do-or-die-as-ether-price-drops-to-a-critical-level-against-btc\/"},"modified":"2020-12-22T18:30:00","modified_gmt":"2020-12-22T15:30:00","slug":"ethereum-vs-bitcoin-do-or-die-as-ether-price-drops-to-a-critical-level-against-btc","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/ethereum-vs-bitcoin-do-or-die-as-ether-price-drops-to-a-critical-level-against-btc\/","title":{"rendered":"# Ethereum vs. Bitcoin: Do or die as Ether price drops to a critical level against BTC"},"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-6a3ce842da6f2\" 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-6a3ce842da6f2\" 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\/ethereum-vs-bitcoin-do-or-die-as-ether-price-drops-to-a-critical-level-against-btc\/#New_higher_high_for_ETH_in_first_uptrend_since_bear_market\" >New higher high for ETH in first uptrend since bear market<\/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\/ethereum-vs-bitcoin-do-or-die-as-ether-price-drops-to-a-critical-level-against-btc\/#December_is_historically_a_good_month_to_enter_altcoins\" >December is historically a good month to enter altcoins<\/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\/ethereum-vs-bitcoin-do-or-die-as-ether-price-drops-to-a-critical-level-against-btc\/#ETHBTC_must_bounce_to_show_strength\" >ETH\/BTC must bounce to show strength<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Ethereum vs. Bitcoin: Do or die as Ether price drops to a critical level against BTC <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>It&#8217;s been all about Bitcoin (BTC) in recent months with altcoins suffering as a result and BTC dominance reaching a new local high of 67.5% over the past few days.<\/p>\n<p>However, a reversal typically occurs once altcoins start to show such major weakness and altcoin traders are in depression. The leading indicator for such a U-turn is Ether (ETH), which is now in a do or die position against its BTC pair. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"New_higher_high_for_ETH_in_first_uptrend_since_bear_market\"><\/span>New higher high for ETH in first uptrend since bear market<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2020-12\/62507ec1-c6ef-486d-9e56-d17f6fb07a04.png\"><figcaption style=\"text-align: center;\"><em>ETH\/USD 1-week chart. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/x\/OvRKpa15\/\"><em>TradingView<\/em><\/a><\/figcaption><\/figure>\n<p>The chart above speaks for itself, showing a new uptrend since the breakout above $300 earlier this year when buyers im<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>tely stepped in this region. This was a breakout from a multi-year accumulation range, which increases the likelihood of bull market continuation.  <\/p>\n<p>Since then, Ether\u2019s price broke through $450 and continued its rally toward the recent high at $675. If that becomes the temporary top, a correction towards $450-480 is likely. However, such a correction is very healthy for the markets and should provide fuel for the next impulse wave.<\/p>\n<p>Using the Fibonacci extension tool, such an impulse wave could send ETH price to $900 and possibly even $1,300.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"December_is_historically_a_good_month_to_enter_altcoins\"><\/span>December is historically a good month to enter altcoins<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2020-12\/813e30f5-76e8-4e04-a0e4-776496e8b6aa.png\"><figcaption style=\"text-align: center;\"><em>BTC Dominance 1-week chart. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/x\/5PpYoPRR\/\"><em>TradingView<\/em><\/a><\/figcaption><\/figure>\n<p>Since 2016, the Bitcoin dominance chart has topped out in the month of December, followed by a solid quarter for altcoins.<\/p>\n<p>In that perspective, the Bitcoin dominance shows a clear resistance zone at the 67%-69% level. It\u2019s hard to call this a resistance zone as the Bitcoin dominance chart isn\u2019t an asset that can be traded. But technical analysis can still be useful in this case.<\/p>\n<p>If the dominance reverses here, then another lower high will be constructed resulting in another top for December.<\/p>\n<p>Given that the cryptocurrency market is in a bull cycle for the first time since January 2018, the potential altcoin run may become relatively big in scope. Such a rally could also see Bitcoin dominance dro to 48%-50%.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"ETHBTC_must_bounce_to_show_strength\"><\/span>ETH\/BTC must bounce to show strength<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2020-12\/e708745a-6001-4860-8d14-f1b2d54dcd2e.png\"><figcaption style=\"text-align: center;\"><em>ETH\/BTC 1-week chart. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/x\/I0fAFu7e\/\"><em>TradingView<\/em><\/a><\/figcaption><\/figure>\n<p>The weekly chart for ETH\/BTC tells the whole story. A breakout above the 0.026 sats earlier this year propelled the price even higher with Ether rallying toward 0.04 sats \u2014 the range resistance from the previous accumulation period.\u00a0This resistance couldn\u2019t break in one-go, after which ETH\/BTC dropped significantly.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/p>\n<p>The primary point of interest now is the range between 0.0245-0.026 sats as that zone used to be the resistance.\u00a0As long as this area holds, more upside should be expected in the first quarter of 2021. <\/p>\n<p>However, altcoins do not perform well when Bitcoin is volatile. Therefore, Ether and altcoin traders should keep an eye on Bitcoin, which needs to stabilize and\/or consolidate to ensure a strong breakout.<\/p>\n<p><em>The views and opinions expressed here are solely those of the <\/em><a rel=\"nofollow noopener\" 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=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\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\">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\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/ethereum-vs-bitcoin-do-or-die-as-ether-price-drops-to-a-critical-level-against-btc\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Ethereum vs. Bitcoin: Do or die as Ether price drops to a critical level against BTC &#8221; It&#8217;s been all about Bitcoin (BTC) in recent months with altcoins suffering as a result and BTC dominance reaching a new local high of 67.5% over the past few days. However, a reversal typically occurs once altcoins&#8230;<\/p>\n","protected":false},"author":1,"featured_media":139288,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2020-12\/e86a2018-69aa-4d82-b527-6048f058db0a.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74891,74939,73785],"class_list":["post-139287","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-ethereum","tag-market-analysis","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/139287","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=139287"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/139287\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/139288"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=139287"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=139287"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=139287"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}