CandleFocus Ethereum and Altcoins Gearing Up for Explosive Move As ETH Mirrors December 2020 Structure: Jason Pizzino
2024-12-24
Author: Content Editor
According to crypto analyst Jason Pizzino, Ethereum and altcoins may be preparing for an upward swing as Ethereum displays a similar pattern to what it did in 2020. Pizzino notes that the Ethereum/Bitcoin pair is showing a "major altcoin signal," but believes that altcoins still have some further decline before a market rally is triggered. He highlights a specific level on the ETH/BTC chart that needs to be surpassed for an overbalance in price and signals a bullish trend. Pizzino compares the current situation to December 2020 when Ethereum experienced a significant volume surge and subsequent price reversal. He suggests that a similar scenario may unfold in the coming weeks. At the time of writing, ETH/BTC is valued at 0.0342 BTC ($3,264.68).
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