Recently, ETH has completely decoupled from BTC:
BTC has been holding up well amid volatility, showing strong resilience, while ETH has continued to weaken, underperforming the broader market, with the ETH/BTC exchange rate remaining under pressure.
Technically:
The price has remained below the short-term moving averages. Every rebound has featured rising prices on declining volume, pullbacks on increasing volume, long upper wicks, and frequent false breakouts—a classic weak, choppy consolidation pattern.
There is no short-term uptrend, but neither is there a crash. Instead, price keeps grinding sideways and testing traders’ patience.
Bullish case (buy dips only; don’t trade the trend)
There is steady support below, with room for a corrective rebound after the oversold decline.
However, the bullish case is only for a corrective bounce, not a reversal. Upside is limited, so only take small positions near the lows, and cut losses if support breaks.
Bearish case (the best approach at this stage)
Capital flows are weak, rebounds lack volume, and selling pressure in resistance zones is heavy.
Every rebound is an opportunity to short. Shorting into resistance on a rebound is currently the highest-probability strategy. #ETH
BTC has been holding up well amid volatility, showing strong resilience, while ETH has continued to weaken, underperforming the broader market, with the ETH/BTC exchange rate remaining under pressure.
Technically:
The price has remained below the short-term moving averages. Every rebound has featured rising prices on declining volume, pullbacks on increasing volume, long upper wicks, and frequent false breakouts—a classic weak, choppy consolidation pattern.
There is no short-term uptrend, but neither is there a crash. Instead, price keeps grinding sideways and testing traders’ patience.
Bullish case (buy dips only; don’t trade the trend)
There is steady support below, with room for a corrective rebound after the oversold decline.
However, the bullish case is only for a corrective bounce, not a reversal. Upside is limited, so only take small positions near the lows, and cut losses if support breaks.
Bearish case (the best approach at this stage)
Capital flows are weak, rebounds lack volume, and selling pressure in resistance zones is heavy.
Every rebound is an opportunity to short. Shorting into resistance on a rebound is currently the highest-probability strategy. #ETH
