Ethereum's Potential Surge Against Bitcoin by Year's End

According to Cointelegraph, Ethereum's native token, Ether (ETH), is poised for significant growth against Bitcoin (BTC) by the end of the year, driven by a bullish reversal pattern on its weekly chart. The ETH/BTC pair has been developing an inverse-head-and-shoulders (IH&S) pattern since early September, characterized by three troughs with the deepest in the middle, beneath a common neckline resistance at 0.0420 BTC. This technical setup suggests that a breakout above the neckline could propel ETH/BTC to approximately 0.066 BTC, marking a 75% increase from current levels. Further bullish indicators include the impending formation of a golden cross between Ethereum's 20-week exponential moving average (EMA) and its 50-week EMA. Historically, a similar crossover in July 2020 led to a 250% surge in ETH/BTC rates, following a brief overbought correction. This time, a dip into the 0.033–0.045 BTC support zone, aligning with the 20- and 50-week EMAs, could act as a catalyst for a rebound, reinforcing the IH&S breakout scenario. However, ETH/BTC faces significant resistance levels before confirming a full breakout. The first major hurdle is the 200-week EMA near 0.045 BTC, a level that has consistently thwarted upward movements over the past two years. Beyond this lies a more formidable barrier: a long-term downward trendline that has defined Ethereum's peaks against Bitcoin since 2017. Should ETH/BTC manage to close above the 200-week EMA, it could challenge this trendline, currently positioned in the 0.050–0.055 BTC range. Despite these obstacles, Ether still holds the potential for 15-30% growth compared to Bitcoin this year. It is important to note that this article does not offer investment advice or recommendations. All investment and trading activities involve risk, and readers are encouraged to conduct their own research before making any decisions.