Ethereum is Ahead of Bitcoin This Rally – But ETH Price Still at Risk of a 20% Crash Against BTC
Ether entered a bearish range that preceded a 35% price crash in the April-May 2022 session.< /p>
Market analysis
Ethereum's native token, Ether (ETH), has seen better gains than Bitcoin (BTC) in the past 24 hours, although the latter eventually broke above the key $20,000 level.
Ether beats Bitcoin in a risky rallyOn the daily chart, Ether jumped around 14% to reach its weekly high of $1,554 (data via Binance) on October 26. Bitcoin suffered a similar rally, but its cumulative profits for the week are only 6% in comparison. .
The ETH/BTC pair gained around 8%, climbing as high as 0.075 BTC on October 26.
![](https://s3.cointelegraph.com/uploads/2022-10/f228ec8f-a43d-43b8-b038-90d7f7444e8e.png)
The boom in major crypto assets has been in sync with the US stock market's winning streak since October 24. It also occurred against the backdrop of a weaker US Dollar Index, which has generally traded against the crypto market since March 2020.
Fractal alarm bearETH/BTC's latest price rally took it into a range that preceded a 35% correction in the April-May 2022 session (marked "R1" in the chart below). below) and helped limit its upside outlook in Aug-Sept 2022 (marked as "R3" in the table below).
![](https://s3.cointelegraph.com/uploads/2022-10/06d334b8-7705-4fc8-9002-b49205f4bff5.png)
The range coincides with the area defined by ETH/BTC's 0.236–0.382 Fib lines, or 0.072 BTC–0.077 BTC. Therefore, the pair may stabilize inside the range, followed by a correction towards the 0.068 BTC–0.064 BTC area, its short-term support levels.
Related:
![Ethereum is Ahead of Bitcoin This Rally – But ETH Price Still at Risk of a 20% Crash Against BTC](https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTAvYWJiZjMyOGQtZTRkMi00MzE1LWI4YTUtNGVlMDM4MDhiYTcyLmpwZw==.jpg?#)
Ether entered a bearish range that preceded a 35% price crash in the April-May 2022 session.< /p>
Market analysis
Ethereum's native token, Ether (ETH), has seen better gains than Bitcoin (BTC) in the past 24 hours, although the latter eventually broke above the key $20,000 level.
Ether beats Bitcoin in a risky rallyOn the daily chart, Ether jumped around 14% to reach its weekly high of $1,554 (data via Binance) on October 26. Bitcoin suffered a similar rally, but its cumulative profits for the week are only 6% in comparison. .
The ETH/BTC pair gained around 8%, climbing as high as 0.075 BTC on October 26.
![](https://s3.cointelegraph.com/uploads/2022-10/f228ec8f-a43d-43b8-b038-90d7f7444e8e.png)
The boom in major crypto assets has been in sync with the US stock market's winning streak since October 24. It also occurred against the backdrop of a weaker US Dollar Index, which has generally traded against the crypto market since March 2020.
Fractal alarm bearETH/BTC's latest price rally took it into a range that preceded a 35% correction in the April-May 2022 session (marked "R1" in the chart below). below) and helped limit its upside outlook in Aug-Sept 2022 (marked as "R3" in the table below).
![](https://s3.cointelegraph.com/uploads/2022-10/06d334b8-7705-4fc8-9002-b49205f4bff5.png)
The range coincides with the area defined by ETH/BTC's 0.236–0.382 Fib lines, or 0.072 BTC–0.077 BTC. Therefore, the pair may stabilize inside the range, followed by a correction towards the 0.068 BTC–0.064 BTC area, its short-term support levels.
Related:
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