{"id":97931,"date":"2020-10-26T20:39:05","date_gmt":"2020-10-26T17:39:05","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/dont-expect-another-2017-style-altseason-as-ethereum-continues-slump-vs-bitcoin\/"},"modified":"2020-10-26T20:39:05","modified_gmt":"2020-10-26T17:39:05","slug":"dont-expect-another-2017-style-altseason-as-ethereum-continues-slump-vs-bitcoin","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/dont-expect-another-2017-style-altseason-as-ethereum-continues-slump-vs-bitcoin\/","title":{"rendered":"# Don&#8217;t expect another 2017-style altseason as Ethereum continues slump vs. Bitcoin"},"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-6a3c585b4ae6a\" 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-6a3c585b4ae6a\" 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\/dont-expect-another-2017-style-altseason-as-ethereum-continues-slump-vs-bitcoin\/#The_003_sats_level_is_a_crucial_barrier_to_hold\" >The 0.03 sats level is a crucial barrier to hold<\/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\/dont-expect-another-2017-style-altseason-as-ethereum-continues-slump-vs-bitcoin\/#Interesting_weekly_levels_to_watch_on_the_ETHBTC_chart\" >Interesting weekly levels to watch on the ETH\/BTC chart<\/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\/dont-expect-another-2017-style-altseason-as-ethereum-continues-slump-vs-bitcoin\/#DecemberJanuary_are_the_months_to_get_into_ETH\" >December\/January are the months to get into ETH<\/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\/dont-expect-another-2017-style-altseason-as-ethereum-continues-slump-vs-bitcoin\/#Bitcoin_dominance_still_eager_for_a_test_of_65-67_level\" >Bitcoin dominance still eager for a test of 65-67% level<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/buradabiliyorum.com\/en\/dont-expect-another-2017-style-altseason-as-ethereum-continues-slump-vs-bitcoin\/#Crucial_level_for_ETHUSD_to_hold\" >Crucial level for ETH\/USD to hold<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Don&#8217;t expect another 2017-style altseason as Ethereum continues slump vs. Bitcoin <\/strong>&#8221;<\/p>\n<div data-v-5a136f3a=\"\">While Bitcoin (BTC) is showing strength through new higher highs and making a new yearly high, Ethereum&#8217;s Ether (ETH) shows weakness, particularly the ETH\/BTC pair.<\/p>\n<p>ETH weakness is also a clear indication that most altcoins are not showing strength either since they tend to reflect Ether&#8217;s performance.\u00a0<\/p>\n<h2><span class=\"ez-toc-section\" id=\"The_003_sats_level_is_a_crucial_barrier_to_hold\"><\/span>The 0.03 sats level is a crucial barrier to hold <span class=\"ez-toc-section-end\"><\/span><\/h2>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2020-10\/2d27c94b-b9a3-4be5-a059-91075e040c05.png\" alt=\"\" title=\"\"\/><figcaption style=\"text-align: center;\"><em>ETH\/BTC 1-day chart. Source: <\/em><a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/x\/Inlnn8AJ\/\"><em>TradingView<\/em><\/a><\/figcaption><\/figure>\n<p>The daily chart of ETH\/BTC shows a clear rejection at the 0.0325 sats level, through which a renewed test of the 0.03 sats area is occurring. A very likely occurrence is the breakdown of this level as the trend has been to the downside since 0.04 sats. <\/p>\n<p>This massive rally upwards reflected Bitcoin\u2019s strength as BTC rallied towards $12,000 and Ether towards $450, though the latter has remained in a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a> downtrend against BTC in recent years.\u00a0<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Interesting_weekly_levels_to_watch_on_the_ETHBTC_chart\"><\/span>Interesting weekly levels to watch on the ETH\/BTC chart<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2020-10\/0cb68a18-b13b-4809-89a0-b93d49f43197.png\" alt=\"\" title=\"\"\/><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\/haG50wyO\/\"><em>TradingView<\/em><\/a><\/figcaption><\/figure>\n<p>The levels to watch are relatively easy to spot on the weekly timeframe. If the correction goes further on ETH\/BTC pair, a correction towards 0.026 sats seems likely. <\/p>\n<p>That level is a crucial pivot through multiple arguments. The first one is the 100-week moving average (MA), which is lying around that area. This MA should provide consistent support, after which a breakout above the 200-week MA would signal further bullish momentum for Ether. <\/p>\n<p>However, before the breakout, the previous resistance zone is also lying around 0.026 sats, through which a beautiful support\/resistance flip can occur, signaling upward continuation. <\/p>\n<p>Overall, the ETH\/BTC has broken out of a one-year accumulation range, establishing a new higher high. A retest of the previous resistance zone for confirmation of support is therefore not unlikely.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"DecemberJanuary_are_the_months_to_get_into_ETH\"><\/span>December\/January are the months to get into ETH<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2020-10\/f3537227-6668-437e-9b19-980bedf77564.png\" alt=\"\" title=\"\"\/><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\/hivn0Bdj\/\"><em>TradingView<\/em><\/a><\/figcaption><\/figure>\n<p>As history shows, the best period to buy Ethereum has been in December and January. <\/p>\n<p>Markets tend to move in cycles, and within cycles, some smaller cycles also come into play. In the cryptocurrency market, cycles exist and occur every few months. <\/p>\n<p>One of those cycles is the confirmation and bottom construction for ETH price, which can signal a potential rally for altcoins. In the past five years, this bottom construction was established in December and January, after which significant surges occurred. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"Bitcoin_dominance_still_eager_for_a_test_of_65-67_level\"><\/span>Bitcoin dominance still eager for a test of 65-67% level<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2020-10\/ebc43e4c-da26-4a50-8237-037f521a4d9d.png\" alt=\"\" title=\"\"\/><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\/nwMYQktc\/\"><em>TradingView<\/em><\/a><\/figcaption><\/figure>\n<p>Bitcoin&#8217;s market cap dominance is climbing,\u00a0 which is similar to other fourth quarters in previous years.<\/p>\n<p>Bitcoin dominance broke below 65-67%, after which a rally across the altcoin markets occurred. However, there has not been any retest confirmation that this downtrend is active. <\/p>\n<p>It\u2019s hard to determine the significance of such a retest (as Bitcoin dominance is not a tradable asset), but the dominance is in a decent position to rebound. <\/p>\n<p>However, if the dominance can\u2019t break above 65-67%, further downward continuation is likely to occur, which may give room for altcoins to rally heavily. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"Crucial_level_for_ETHUSD_to_hold\"><\/span>Crucial level for ETH\/USD to hold<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2020-10\/9affaa13-e7fa-4bf3-8e9b-eefb0e3b3076.png\" alt=\"\" title=\"\"\/><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\/QNsjjYzW\/\"><em>TradingView<\/em><\/a><\/figcaption><\/figure>\n<p>The ETH\/USD chart is showing a clear breakout above the $380-385 resistance area, with the price of Ether rallying above the $400 mark.<\/p>\n<p>However, to confirm the breakout, the $380-385 area has to now serve as support. If that area fails to become support, the likelihood of deviation above the range becomes relevant.<\/p>\n<p>In that case, if Ether\u2019s price breaks below $380, a retest of the range lows at $315-320 becomes very likely. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"\/><\/p>\n<p>That\u2019s still not a bad case for the bulls, however, as the markets are always eager for retests of the $260 and $290 levels. Whether those levels will get tested is another matter. But eyes should first be on the $380 area to hold as support.<\/p>\n<p>If the $380-385 area holds, a potential continuation towards $440 is on the boards. The next question then becomes whether this resistance area can break to the upside, signaling further strength.<\/p>\n<p>However, as discussed earlier, this is heavily dependent on whether ETH\/BTC starts to show strength.<\/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\/don-t-expect-another-2017-style-altseason-as-ethereum-continues-slump-vs-bitcoin\" target=\"_blank\" rel=\"noopener noreferrer\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Don&#8217;t expect another 2017-style altseason as Ethereum continues slump vs. Bitcoin &#8221; While Bitcoin (BTC) is showing strength through new higher highs and making a new yearly high, Ethereum&#8217;s Ether (ETH) shows weakness, particularly the ETH\/BTC pair. ETH weakness is also a clear indication that most altcoins are not showing strength either since they&#8230;<\/p>\n","protected":false},"author":1,"featured_media":97932,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2020-10\/2dafd39b-5919-419a-aa2c-37a6fecafc4e.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74891,74938,75164,73785],"class_list":["post-97931","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-ethereum","tag-ethereum-price","tag-price-analysis","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/97931","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=97931"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/97931\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/97932"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=97931"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=97931"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=97931"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}