Emerging Ethereum Trend Mimics 2017-19: Time to Reconsider Bitcoin Investments?
Analysing Stoch RSI Indications: Could an Oversold Market Signal a Major Ethereum Rally Over Bitcoin?
Key Points
- The ETH/BTC pair is mirroring the 2017-2019 cycle, with the Stochastic RSI below 20, indicating a potential momentum shift.
- Ethereum’s market value has dropped by over $80 billion this month, underperforming Bitcoin amid market uncertainty.
The ETH/BTC pair is showing signs similar to the 2017-2019 cycle, with the Stochastic RSI dipping below 20. This rare oversold condition suggests that Ethereum (ETH) could potentially outperform Bitcoin (BTC) by mid-Q3.
The current pattern is a close replica of the 2017-2019 cycle, where ETH/BTC hit its lowest before recovering significantly. If history is to repeat itself, there could be a momentum shift underway.
ETH/BTC Pair: A Potential Rebound?
Currently, Ethereum is experiencing a supply crunch, hinting at possible accumulation as it consolidates within the $2.7K-$2.8K range. The MACD is showing early signs of a bullish crossover, suggesting a possible trend reversal.
However, Ethereum has lost more than $80 billion in market value this month, underperforming Bitcoin amid broader market uncertainty. The ETH/BTC pair is in a downtrend, with the RSI indicating a potential bottom.
Investor Sentiment and ETH
Despite a 20% decline in trading volume, indicating weak accumulation, early bullish signals are emerging. For Ethereum to regain bullish momentum, it must reclaim $3.5K as support before attempting a breakout towards its post-election peak of $4K.
Given the historical trends and technical indicators, Ethereum’s current consolidation phase may be setting up for a potential rebound. Traders should closely monitor volume inflows and bullish divergences in the ETH/BTC pair to validate the repetition of the 2017-19 cycle.
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.
You may also like
Auto-Compounding Comes to uniETH Restaking Rewards: What It Means for Your ETH Yield
Ripple and SEC Agree to Pause Appeals Process

Japan’s public companies betting big against the yen’s slide
Is Bitcoin’s reign on the brink?
Trending news
MoreCrypto prices
More








