Ethereum usually follows the movements of Bitcoin. However, in the last 18 days, Bitcoin has had a massive run while Ethereum has stayed proportionally behind. BTC has gone 75% over is previous ATH while ETH remains 45% under its ATH. Suppose we are about to see a catch up run like in 2017. The gold denominated resistances are 20grs and 33grs. At current prices that is $1,220 and $2,013 respectively.
A run for the 2,000 dollars area could take the ETHBTC pair above the channel it's been for two years.
The idea of using resistances denominated in dollars-per-grams-of-gold is to account for the depreciation of the dollar.
A run for the 2,000 dollars area could take the ETHBTC pair above the channel it's been for two years.
The idea of using resistances denominated in dollars-per-grams-of-gold is to account for the depreciation of the dollar.
Trade closed: target reached
Trade closed: target reached
