24hoursworld

They claim that Ethereum would grow 50% more than Bitcoin this year

They claim that Ethereum would grow 50% more than Bitcoin this year
They claim that Ethereum would grow 50% more than Bitcoin this year

Different gurus assure that the bullish prospects of both Ethereum and Bitcoin in 2024 gain additional momentum due to their historical price behavior after the Bitcoin halving.

They claim that Ethereum would grow 50% more than Bitcoin this year

According to various analysts, Ethereumwill probably explode by more than 50% against its highest-ranking rival, Bitcoin, in the coming months. To make this forecast, we used a technical setup called an inverted head and shoulders (IH&S).

This IH&S pattern is characterized by the formation of three valleys below a neck line resistance common, so that the middle valley (head) becomes deeper than the other two valleys (shoulders), which are approximately the same length.

In a “perfect” scenario, An IH&S pattern resolves when the price breaks above the neck line resistance after the formation of the right shoulder.either. By doing so, the price rises as much as the maximum distance between the lowest point of the head and the neck line resistance.

So it is that A famous analyst named Wolf anticipated an IH&S breakout scenario in the coming months due to its similarities to a giant IH&S pattern from 2019-2021. It should be noted that the latter resulted in a 140% price increase after a decisive breakout in April 2021.

“ETH/BTC pair’s bullish outlook for 2024 gains additional momentum from its historical price performance post-Bitcoin halving”they explained from Cointelegraph.

Finally, leaving technical analysis aside, we take a fundamental perspectivewe will find that the release of Ethereum exchange-traded funds (ETFs) in the spot market could trigger bullish scenarios.

Source: Ambito

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest Posts