ETH/BTC has broken out of a bullish flag and cleared two key resistance levels. The first was at 0.02498, which held as resistance for a while. After a successful breakout and retest, price surged through the next key level at 0.02587.
We might see a retest of 0.02587—if it holds as support, the next major target to watch is around 0.03. This would mark a significant move and could set the stage for a broader rally.
The ultimate target for this bull cycle remains around 0.048, but let’s take it step by step and focus on the 0.03 level for now.
One thing to watch closely: the weekly RSI is showing signs of bearish divergence compared to price action. If this divergence plays out, we could see a correction. However, if RSI manages to break above 79.95, that bearish divergence would be invalidated—and we’d be in a stronger position to aim for higher levels.
Let’s see how things unfold. For now, 0.02587 is the key short-term level to hold.
We might see a retest of 0.02587—if it holds as support, the next major target to watch is around 0.03. This would mark a significant move and could set the stage for a broader rally.
The ultimate target for this bull cycle remains around 0.048, but let’s take it step by step and focus on the 0.03 level for now.
One thing to watch closely: the weekly RSI is showing signs of bearish divergence compared to price action. If this divergence plays out, we could see a correction. However, if RSI manages to break above 79.95, that bearish divergence would be invalidated—and we’d be in a stronger position to aim for higher levels.
Let’s see how things unfold. For now, 0.02587 is the key short-term level to hold.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.