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    Ether outperforms Bitcoin, reaching a three-month high

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    Ether (ETH) recently hit a three-month high of $2,956, outperforming Bitcoin (BTC) for the first time in a while. The ETH/BTC trading pair has been increasing from a 2021 level, making it an optimal time to buy Ether, according to some analysts. However, for the ETH/BTC trend to hit bottom, it needs to close a daily position above the 50-day simple moving average. Observations reveal that significant rise in the ETH/BTC trading pair might indicate a strong uptrend. As usual, individuals should research before making any investment decisions.

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    Hey there! If you’ve been keeping tabs on Ether (also known as ETH), you’ll know it’s having its best week since May 2024. So, Bitcoin (BTC) has been going a bit slow lately, but this is no time to sulk. Ether has been doing incredibly well, even hitting a three-month high of $2,956, which sparked a 6% rise in the ETH/BTC chart.

    And yes, briefly, Ether outdid Bitcoin for the first time in a while, which has made everybody watch the altcoin-BTC pair closely. Some are even thinking a new trend might be coming up.

    Ethereum, in fact, had a big moment when it broke above a pretty stubborn trend (known as the “bearish trend”) that had held on for 161 straight days! As a result, everyone’s excited again about the ETH/BTC trend.

    And that wasn’t the only good news. Despite Bitcoin reaching a new record high, ETH/BTC has been rising from a 2021 level. An independent crypto trader named Marzell felt like this made ETH/BTC the best time to buy Ether in 4 years!

    But let’s not get too excited too quickly. Benjamin Cowen, a crypto technical analyst, stated that for the ETH/BTC trend to hit the bottom, the trading pair needs to close a daily position above the 50-day simple moving average (or SMA, for those in the know).

    Keep in mind that ETH/BTC has been below the 50-day SMA for most of 2024, with only a few times when it was above. If it goes above 0.04 for the day, this could mean a break of structure (BOS) and possibly signal a reversal in the market for ETH/BTC.

    Still, another market analyst named Freddy isn’t so sure about all of this. He pointed out that this isn’t the first time we’ve seen a surge over 5% in the ETHBTC market this year.

    CryptoChille, another analyst, observed that ETH, ETHBTC, and the TOTAL3 daily chart all test a key resistance level at the same time. “If these resistances break, this could mean strong highs and even a rally for other altcoins.”

    Some people have noticed a significant rise in the ETH/BTC trading pair over the past month. With some important indexes reversing from an oversold region, the chances of a strong uptrend seem to be increasing based on past outcomes.

    Remember to always do your own research before making any investment decisions as there are risks involved. This is just an overview of what’s happening in the crypto world right now and is not financial advice!

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