Ethereum ‘about to go parabolic’ against Bitcoin as analysts weigh BTC bear case

One expert thinks that Ethereums Ether token (ETH), will release a “parabolic attack” on Bitcoin to smash all highs.

2-week forecast of “crazy” move in ETH

Galaxy, a popular Twitter account, shared positive forecasts about the largest altcoin.

TradingView and Cointelegraph Markets Pro data reveal that ETH/BTC is at three-year highs. Its next move must prove even more powerful.

Ethereum versus Bitcoin is one bullish story in the crypto markets short-term this month.

ETH/USD 1-day candle light chart (Bitstamp). Source: TradingView

“$ ETH is about enter into parabolic mode. You just need to see and wait what insane things will happen.”

Not all proof points to the $5,000 level being dropped, ETH/USD was trading at roughly $4,550 at the time this short article was composed.

The image in USD terms is comparable, with Ethereum setting new records in early November, and remaining within 20% of $5,000 ever given that.

Todays ETH/BTC price reached 0.085, the greatest level considering that a brief spike in May. Just 2018 is able to exceed that level, with some exchanges seeing a much higher ceiling than 2018.

ETH/BTC 1-month candle chart (Bitstamp). Source: TradingView

BINANCE: ETH/BTC 2-week candle chart annotated (Binance). Source: Galaxy/ Twitter

” This ought to in theory be the part where strength continues, we see that strong run on structure,” Pentoshi, a fellow trader, tweeted as part separate remarks on Ethereum Friday.

He shared his enjoyment with followers by sharing a prediction chart.

Bull case for Bitcoin bullies

Bitcoin is, nevertheless, still in a conservative mood.

Related: Fridays expiration of the $950M Bitcoin options is Victory!

Bull case: OC supply characteristics: Illiquid supply, LTH supply and HODL waves. OC oscillators have actually never experienced exuberance/reset in summertime – Summer saw OC habits that looked like bear market – Funds have brand-new PnLs January and are excited to handle danger– Macro unpredictability
— Will Clemente (@WClementeIII) December 2, 2021

Cointelegraph reported that while on-chain metrics are not cause for concern, little hints such as long-lasting holder sales activity point to decreased conviction.

After increasing to “neutral” area last week, Sentiment is now back in “fear”, the Crypto Fear & Greed Index determining 31/100.

Crypto Fear & Greed Index. Source: Alternative.me
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Experts are now starting to think that “bearish” theories have more reliability after numerous weeks of poor rate efficiency. They remain bullish on BTC.

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