Analysis: ETH/BTC exchange rate falls below support level, may fall into death cross technical pattern
According to Mars Finance news, technical analysis is sending out several warning signs to altcoin bulls, with the ETH/BTC exchange rate falling below support and on the verge of falling into a death cross technical pattern. Options markets show investors are taking the signal.
Note: A death cross occurs when the short-term moving average is below the long-term moving average, signaling a potential long-term bearish momentum shift. According to data from TradingView, the 50-week simple moving average (SMA) of the ETH/BTC exchange rate seems likely to cross over with the 200-week moving average. The impending death cross signals risk aversion or long-term underperformance of ETH and other altcoins relative to BTC. The ETH/BTC exchange rate is down nearly 10% this year to 0.048. (CoinDesk)
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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