Five Signs That Indicate Ethereum Could Soon Surge Against BTC

In our Ethereum news today, we are talking about five signs that indicate Ethereum could soon surge against BTC so let’s read more about it.

ETH is up by around 15% against bitcoin over the past week and the rally showed analysts that right now is the time for altcoins to rally in the upcoming weeks or months. The key technical signs show that ETH will continue to rally against bitcoin and we are reading about the five signs that indicate it. Ethereum started to break higher against Bitcoin while before this, the cryptocurrency was underperforming Bitcoin as it pushed past the key resistance of ,000 and ,000 and even further.
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Ethereum is up around 15% against Bitcoin in the past week and the rally showed analysts that there could be a time for altcoins to rally in the upcoming weeks or the upcoming months. In the past, many believed that Bitcoin will outperform as it was capturing all of the attention at the capital that investors were investing in the crypto space. The key technical signs showed that ETH will continue rallying against Bitcoin which will be accompanied by a rally in the price of ETH and BTC against the US dollar.  One trader even shared a chart showing how the cryptocurrency is poised to undergo a rally. He pointed to five factors, four of them technical and one fundamental:

• Ethereum formed a bullish engulfing candle
• A bullish divergence was formed for the ETH/BTC pair
• The 200-day moving average was flipped by the price of the pair
• The uptrend is happening on a good volume
• ETH 2.0 is expected to launch in the upcoming weeks so analysts believe it could end up driving more demand for ETH.

Other fundamental trends are bullish as well since Australia’s Reserve Bank announced:

 “The Reserve Bank today announced that it is partnering with Commonwealth Bank, National Australia Bank, Perpetual and ConsenSys Software, a blockchain technology company, on a collaborative project to explore the potential use and implications of a wholesale form of central bank digital currency (CBDC) using distributed ledger technology (DLT)… The project will involve the development of a proof-of-concept (POC) for the issuance of a tokenised form of CBDC that can be used by wholesale market participants for the funding, settlement and repayment of a tokenised syndicated loan on an Ethereum-based DLT platform.”