BAD NEWS FOR ALTCOINS.
ETH/BTC has broken below its 18-month ascending trendline and is now approaching its 8th consecutive weekly red-candle close.
For Altcoins to regain relative strength, ETH/BTC needs to bounce from here and establish a sustained recovery.
As long as the pair remains below its broken trendline, the broader altcoin market could face continued potential weakness against Bitcoin.
ETH/BTC has broken below its 18-month ascending trendline and is now approaching its 8th consecutive weekly red-candle close.
For Altcoins to regain relative strength, ETH/BTC needs to bounce from here and establish a sustained recovery.
As long as the pair remains below its broken trendline, the broader altcoin market could face continued potential weakness against Bitcoin.
