Here’s Where The Ethereum Rally Could Pause, According To Bitcoin Blueprint

Ethereum is ripping, now well above $4,000 per ETH and in full price discovery mode. But with no obvious resistance levels, how can anyone prepare for when the trending altcoin runs out of steam and eventually reverses?
Technical analysis indicators, as well as fundamental tools are two possibilities, however, simple mathematics could also play an important factor. Here’s how, along with a look at how the same math stopped the Bitcoin bull train in its tracks.
Crypto Market Cycles, Expectations, And Wild Analyst Targets
As much as analysts and traders can get a good read on an asset and its value, or even how price action could play out, there’s truly no predicting every aspect of cryptocurrency cycles.
Years ago before Bitcoin became a household name, analyst had been predicting $2,0000-3,000 per BTC. Yet at the height of hype, it reached nearly $20,000 per coin.
Related Reading | Lucky Number 7: Ethereum Breaks Total Crypto Monthly Record
A lot more people know what Bitcoin is now, and it enjoys a lot more brand visibility, recognition, and hype than it ever had before. Expectations for it now run to well over $300,000 per coin, yet the once trending cryptocurrency has been stuck below $60,000 for weeks now after repeated rejections.
The struggle has been largely due to capital flowing into another hotly hyped crypto asset instead: Ethereum.

Ethereum versus Bitcoin Fibonacci extensions compared | Source: ETHUSD on TradingView.com
Will Ethereum Take Pause Where Bitcoin Took A Breather?
Ethereum has not only outperformed Bitcoin in 2021, it has done so since the moment is entered the cryptocurrency market.
Like Bitcoin, Ethereum is well above its former all-time high, but hasn’t yet reached any sort of stopping point. However, that could be very close, if Ether follows the path cleared by the first ever cryptocurrency.
It was clear skies for Bitcoin until only recently once it surpassed its former peak, and it kept right on roaring not just to double its former high, but it has now tripled it and then some.
Related Reading | Creator Of Flawless Top Indicator Says Bitcoin Isn’t Done, Despite Signal
To be exact, the high reached the 3.618 Fibonacci extension – which also could end up acting as a logical place for Ethereum to pause also.
Fibonacci extensions and retracements levels are ratios based on the Fibonacci sequence – a series of numbers where the sum of the two previous numbers is the following number in the sequence.
ETHUSD just tapped the 3 Fib extension, and is headed to the 3.272 next – the first place where Bitcoin began to struggle with resistance.
The 3.618 extension still remains the local peak for BTC – is this also where the top ranked altcoin will begin to run out of steam?
Featured image from iStockPhoto, Charts from TradingView.com

Ora Goodwin
Ora Goodwin
I am a well-known and respected author in the cryptocurrency field. I have been writing about Bitcoin and other digital currencies for over 5 years, and my work has appeared in some of the most respected publications in the space. I am also a regular speaker at industry events, and my insights into the crypto market are highly sought after by both media and investors. In addition to my writing and speaking engagements, I am also an active advisor to several blockchain startups, and I sit on the board of directors for the Blockchain Education Network.

Similar Articles

Most Popular

Football lengend David Beckham joins Greed island

On November 5th, the English football superstar David Beckham announced that he would join the Greed Island team, and the whitelist application channel has...

The NFT Project Driving Freedom of Speech in The Metaverse

"Schooling" The Metaverse On Free Speech, Tanked Gil Schoolies NFT's Use Comedy to Fight Cancel Culture With Freedom of Speech Under Attack in and around...

Potential projects to get whitelisted on Solana and Ethereum

The rapid expansion of the NFT sector over the last year has made possible a plethora of innovative new endeavors. The early identification of...

THE Ape-Revolution of the Defi Space

What do you get when you combine game-changing utility, an experienced team in Defi and a frenetic committed community? A monster coin in the...

The Sublimation of Metaverse Experience: Visualization, Multi-scene, Immersion

DID, Metaverse, Immersive Experience, On-chain Visualization, On-chain Interaction In recent years, the "metaverse" has become the new consensus of the global technology giants on the...

Funex Club Announces the Launch of its Upcoming Multi-Chain Decentralized Crypto Wallet – Funex Pro

VILNIUS, LITHUANIA / ACCESSWIRE / October 17, 2022 / After the successful launches and presale programs of its native currency, i.e., Funex Coin - Funex Club is...

NuriFlex successfully completed 1st round of NuriTopia $NBLU token private sales

VANCOUVER, British Columbia -- NuriFlex Holdings Inc. (www.nuri.ca, “NuriFlex”) announced that it has successfully completed 1st round of $NBLU token private sales. $NBLU token...

Bowled.Io To Build A Multilateral Community In Partnership With Prominent Web3 Ecosystem Players

Gaming is the fastest-growing entertainment industry in India. The number of online gamers in India has nearly doubled to 510 million from 269 million...