Ethereum's native token, Ether, might rise 75% against Bitcoin by New Year’s, driven by a bullish reversal setup on its weekly chart. The ETH/BTC pair is forming an inverse head-and-shoulders (IH&S) pattern since early September, confirmed by three troughs beneath a common neckline resistance at 0.0420 BTC. The price target based on this pattern is approximately 0.066 BTC by year-end, indicating a potential 75% increase. Additional bullish indicators include an imminent bullish crossover between Ethereum’s 20-week and 50-week exponential moving averages. Previous similar crossovers have resulted in significant price increases. However, ETH/BTC must overcome critical resistances, including the 200-week EMA near 0.045 BTC, and a long-term downward trendline from 2017. If ETH can clear the 200-week EMA, a challenge at the trendline in the 0.050–0.055 BTC zone may follow. Overall, Ether shows 15-30% growth potential compared to Bitcoin this year.

Source 🔗