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    Ethereum falls to 42-month lows versus Bitcoin — Is the bottom close?

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    Ethereum’s Ether (ETH) continues to weaken against Bitcoin (BTC), reaching its lowest comparative value since April 2021. Decreased enthusiasm for Ethereum due to new funds and competition from Solana (SOL) could further lower the ETH/BTC ratio. Predictive patterns suggest a 15% dip in Ether’s price, potentially followed by a rebound between 25-50%. Expert Aksel Kibar foresees a possible drop and subsequent significant rally in 2021. Recent record lows in the ETH/BTC pair’s relative strength index also indicate a potential recovery following the anticipated dip.

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    Ethereum’s token, Ether (ETH), keeps on losing ground against Bitcoin (BTC). As of Oct. 25, the ETH/BTC pair was floating around at 0.0365 BTC – that’s the lowest it’s been since April 2021.

    A couple of reasons were let downs from new funds introduced in the market and steep competition with another crypto – Solana (SOL). These didn’t really fire up the enthusiasm for Ethereum this year. And it looks like these factors could keep pushing the ETH/BTC lower in upcoming months.

    There’s talk that Ether’s price could dip another 15%. This dip is playing out as part of a pattern in Ether’s price that’s known as the inverse-cup-and-handle pattern (IC&H). Picture an inverted cup followed by a mini rebound, that’s more like a slight uptrend or flat.

    A point of interest here is when the price breaks below this “neckline” support and drops as far as the distance from the peak of this “cup” to the neckline.

    As of Oct. 25, ETH/BTC was showing signs of getting into this breakdown stage and may target around 0.0319 BTC, that’s down more than 15% from current rates.

    There’s a chance Ethereum could spring back 25-50% after it hits the bottom, which aligns with a prediction by expert Aksel Kibar. He sees the ETH/BTC pair dropping toward 0.0290 BTC, a “turning point” that sparked a 200% rally in 2021.

    Adding to this optimism is the fact that the ETH/BTC pair’s relative strength index (RSI) hit an all-time low as of Oct. 25. With the RSI just a smidge above the “oversold” threshold of 30, it suggests a bounce back might happen after an excessive dip.

    If Ether does manage to rebound, it could aim for its 0.618 Fibonacci retracement level at around 0.0482 BTC. Also, the 50-month exponential moving average, near 0.0549 BTC, could be another upside target.

    And so, ETH/BTC could regain 25-50% in 2025 from its current rates.

    Always a word to the wise – investing can be risky business, so please do your own research before putting your money in.

    Source: Cointelegraph

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