ETH-BTC Chart Points to Ether Leadership Ahead

Posted on by American Coins & Gold

ETH-BTC Chart Points to Ether Leadership Ahead
While bitcoin appears to be pulling the broader market higher right now, ether may take the lead in the coming weeks.Ether-bitcoin’s (ETH/BTC) weekly chart shows a bull pennant – a technical pattern marked by converging trendlines, indicating an impending continuation of the ether-bitcoin ratio’s upward move from 0.023 to 0.08 seen early this year.A move above the upper trendline would confirm a breakout or shift in market leadership toward ether.“It does look like a bull pennant,” Daniel Kukan, senior cryptocurrency trader at Swiss-based Crypto Finance AG, told CoinDesk in a Telegram chat. “I believe ether can take the lead towards…