We can see significant divergence in and , is also pointing up giving it a boost as well. We are very much in oversold territory and I think it's just a matter of time before we get a more significant rebound.
I have also overlaid this ETH/BTC chart on top of ETH/USD. As stated in my other posts, we can recognize almost an identical flow and pattern. This leaves me to believe that with ETH/BTC hitting all times lows in 2017 and almost reaching some levels it did in 2016 and that it's just a matter of time before we get a significant move up. In fact, we have already broken the on ETH/BTC , it's just consolidating at this point. Timing wise, the market might be waiting for the SEC to kick the VanEck decision down the road, or it might be waiting for the Ethereum upgrade to take effect. Ethereum is positioned very well to have a massive move up and my bias is much more on Ethereum than BTC at this juncture.
If we do not break up past these we could see ETH go down to $150, possibly $100. However, I find the likely hood of a significant move up far greater with ETH/BTC hitting these 2017 lows(almost 2016 figures) and ETHUSD hitting these levels from 2017. If you compare the 2014 BTC crash to ETH, we have already had a downward move that was similar if not greater in magnitude when compared to BTC . I am inclined to believe this area will be the bottom for ETH, but remember, this is crypto.
Need a solid break of this trend line to confirm a move. We are getting there.
I noticed that ETH was holding pretty well during this last BTC fake-dump, much much better than during last months. I can imagine many people sold their ETH's in that BTC panic, but someone bought it at all eyes-closed, otherwise we would be at 150 USD already. Something is coming as you say...