According to a report from Cointelegraph, Ethereum’s ETH/BTC pair remains in a downtrend, showing no clear signs of a bottom despite multiple dips into oversold RSI territory.
Repeated breakdowns and declining EMAs suggest further downside the analysis says, with a potential 15% drop ahead.
Spot ETH ETFs are seeing outflows, and on-chain data indicates declining activity, with gas fees at historic lows and trading volume lagging behind Bitcoin.
Analysts remain bearish, citing ETH’s weaker risk/reward profile.
However, they believe a bullish breakout above key resistance levels could invalidate the bearish outlook.
Source: Cointelegraph
