Former Goldman Sachs executive: ETH/BTC is about to make a massive breakthrough

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Cointime2024/02/27 13:05

By:Cointime

Raoul Pal, former Goldman Sachs executive and founder of macro research firm Real Vision, stated that ETH/BTC is preparing for a large-scale breakthrough. ETH/BTC is about to break through the diagonal resistance of a huge wedge pattern on the weekly chart. "ETH/BTC chart is absolutely stunning, ready for the next big trend: breaking the huge wedge pattern. Let's see what will happen." In his chart, the trader implied that ETH/BTC has broken a downward channel, indicating a trend reversal towards a bull market. His chart also suggests that ETH/BTC may break the multi-year descending wedge pattern. Other analysts are also becoming bullish on Ethereum. Jan Happel and Yann Allemann, founders of Glassnode, recently stated that the sudden rise of ETH/BTC indicates that Ethereum itself and other alternative coins are about to soar. "When ETH/BTC rises, alternative coins will also rise. And we have just broken upwards after a long consolidation since the end of 2021." Mark Yusko, CEO and founder of Morgan Creek Capital, believes that if Bitcoin reaches $150,000, Ethereum could reach a level of $15,000.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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