The post Ethereum (ETH) and Solana (SOL) ready to turn the tables on Bitcoin (BTC) appeared on BitcoinEthereumNews.com.

As Bitcoin prepares to break through the top of its bull flag, or perhaps be rejected once again, both Ethereum and Solana are starting to turn the tables on the number one cryptocurrency. If $BTC can hold firm, is this the time when the major altcoins will start to steal the show? $BTC having a bit of a moment The $BTC price is having a bit of a moment right now, and is threatening to reject, and break down from the $65,500 resistance. That said, if current support at $64,300 can hold, and $BTC can get a bid from here, the price can start climbing again. The altcoins are still very dependent on what Bitcoin is doing pricewise. That said, if the $BTC price starts rising, or at least remains stable, a few of the more fundamentally sound, and well capitalised altcoins, can begin to outperform. $ETH beaten down against $BTC, but could the comeback start here? Source: TradingView $ETH is an obvious case. Beaten down hugely in its ETH/BTC pairing, it might be imagined that the number two cryptocurrency by market capitalization must surely begin to turn things around. So far today, $ETH is up 1.5% against $BTC. Having just bounced at a long-time trend line, the $ETH price has a descending trend line before it, and quite some way to go before a potential higher high that would officially signal a trend reversal. The fibonacci levels on the above chart give some short-term targets. Very negative higher timeframe chart for $ETH against $BTC Source: TradingView Looking at the weekly chart for the ETH/BTC pair, it must be admitted that things do not look bright for $ETH. The price may have just bounced from the bottom of the descending channel, but it is below both the 50 and 100…

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Filed under: News - @ September 30, 2024 10:26 am