According to Cointelegraph on May 31st, analysts stated that the ETH/BTC exchange rate is forming a bullish "cup and handle" pattern and a "bull flag" pattern, indicating a potential 30% to 55% upside potential. If the ETH/BTC exchange rate breaks through a key resistance level, it could trigger a massive Altcoin season similar to 2017 and 2021. From a technical analysis perspective, if ETH/BTC breaks through the neckline at 0.02596, the target price could reach 0.03814, with a potential increase of 55%, with a time window in July. This target level is consistent with the resistance level in December 2024.
Analysis: ETH/BTC is forming a bullish “cup with handle” pattern, with key resistance at 0.02596
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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