Ether Vs. Bitcoin Teases 170% Gains As ETH Price Breaks 5-month...

Ether price action staged a repeat of its 2021 bull market moves against Bitcoin, leading to predictions of fresh long-term highs against BTC.

Ether (ETH) is teasing 170% gains in under two months as history repeats itself against Bitcoin (BTC).

Ether has the potential to rematch long-term highs above 0.09 in Bitcoin terms.

Bull market history continues to play out for the largest altcoin, with $3,700 the next target.

Bitcoin itself could see $100,000 as soon as next week, analysis predicts.

New analysis released on X Friday by trader Mags shows identical ETH price action playing out from the 2021 bull market.

Ether has spent years grinding lower in BTC terms, but the past few months have given the narrative a firmly bullish slant.

As Mags notes, ETH/BTC bottomed out in April, while wicking to the exact lows that laid the foundation for the previous bull run.

A reversal upward then produced an initial top in February 2021, followed by a support retest — a pattern now being repeated. What happens next could well be music to the ears of long-suffering ETH hodlers.

“Right now, it’s around the exact support from where it pumped 170% in just 7 weeks, printing seven weekly green candles in a row, followed by a slow distribution phase,” Mags commented.

Source: CoinTelegraph