Ethereum: Breaks Down vs Bitcoin
Ethereum's ETH/BTC pair breaks down from bearish pennant at $2313, signaling potential altseason cancelation amid risk-off crypto market vibes.
SourceTrader Tardigrade, known as @TATrader_Alan, warns that the $ETH/$BTC daily pair is breaking down from a bearish pennant, fueling fears that altseason gets axed in this risk-off crypto storm—major vibes pointing to Bitcoin dominance crushing alts like TAO amid broader market jitters.
As a senior macro-crypto prop trader scanning the 4-hour ETH chart, price action clings to that bullish trend with the EMA50 at $2312.08 acting as immediate support just below the current $2313.09 mark, while the EMA200 at $2208.34 anchors deeper long-term floors; yet the MACD death cross at -6.71 screams bearish momentum, and with RSI neutral at 46.97, we're trading snug inside Bollinger Bands—upper resistance at $2369.22 could cap any bounce, but a slip below lower support of $2271.18 opens the door to a sharper retrace, blending ETH price prediction risks with crypto market crash signals if Bitcoin keeps flexing.
Trader Tardigrade
@TATrader_AlanTechnical chartist and crypto content creator focused on Bitcoin and altcoin pattern analysis.