Ethereum Price Has Potential to Surge Higher as Bitcoin Slows: Analysis
All eyes may be on Bitcoin (BTC), but an analyst is suggesting that it may be time to pay Ethereum (ETH) some heed. Like Bitcoin, ETH is stagnating, though technical indicators suggest impending volatility for the asset.
While Thies did not indicate in which direction he expects for Ethereum to head — he just laid out the facts and let readers decide — there seems to be a bigger presence of bullish technical indicators on the charts he posted: his proprietary Market God signal flashed a one-day buy signal, which is something that has preceded strong surges higher in the past, and flashed a sell signal for the 12-hour Bitcoin dominance chart. It is important to note, however, that Ethereum’s price action is mostly predicated on that of Bitcoin, as the leading cryptocurrency determines in which direction the entire market will head.
