According to external sources, after months of running bitcoin, ETH/BTC, a key trade, began to show signs of recovery in the near future. The market focus is on several overlapping technical resistance levels, and if a breakthrough is made, the performance of ETH relative to BTC may be restored in stages.
ETH/BTC approaches a high resistance zone
According to the report, the ETH/BTC dailies are approaching multiple points of convergence to see-up signals, citing the judgement of trader CarpeNoctom. The current exchange rate is about 0.028, which is close to a thick Ichimoku cloud area and is also being suppressed by a long-standing downward trend.
In the past year, the trade has failed in a number of cases with rebound expectations, so that there has not been a general shift to radical betting. Dealers are more concerned about whether there is a clear breakthrough, rather than simply taking short-line steps to enhance the warehouse position.
By late summer or looking at 0.036
According to the report, if ETH/BTC can effectively stand down the route and complete the so-called cloud map breakthrough, the technology will open up further up. The next target area mentioned in the text is near 0.036, and the time window points to the late summer.
However, this judgement is based on the premise that the graph continues. In terms of short-term market sentiment, what really affects the direction of the transaction remains the sustainability of the post-breaker and the follow-up of transactions and funds.
Send a new upgrade to the Taifeng.
In addition to price trends, the report mentions new developments at the level of Etherak development. After a high-level research conference in Berlin two weeks ago, Vitalik Buterin, a co-founder of the Taifung, published an updated development blueprint entitled “Lean Etheleum”.
As disclosed on the project website, this upgrading cycle is expected to last approximately four years and involves a number of core mechanisms in the agreement. It describes it as the third major phase of the Taifung and considers its re-engineering to be comparable to the “The Merge” of the year.
From a market point of view, the road map cannot, for the time being, directly alter the short-line movement of ETH/BTC, but it provides a new long-term narrative for the Etherpo. If the subsequent upgrade goes smoothly, it may affect the expectations of the market to repair its fundamentals.