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Bitcoin Versus Ethereum Battle Ongoing, Will ETH Spring Above September Highs To 0.11 BTC?



Ethereum price prediction cryptotelegram

Bitcoin is king, but Ethereum is the ambitious prince eyeing the throne.

It is a battle for supremacy.

While Bitcoin is the most valuable and the store of value, Ethereum is the home of smart contracting, anchoring disruptive innovations like DeFi and NFTs.

ETH/BTC Market Performance and Price Status

This is why traders constantly keep track of the two crypto leaders, looking for opportunities to clip and even swing trade. The ETH/BTC relationship is, no doubt, worthy for traders.

And looking at the ETH/BTC daily chart, it is clear that ETH has been outperforming BTC for the better part of the year. ETH, after all, has been outperforming BTC throughout 2020 and now 2021. In the months ahead, this may continue considering the bullish outlook among traders.

ETHBTC Price Daily Chart for September 17

Zooming in to lower time frames, specifically the daily chart, price action is pretty balanced. While BTC soaks selling pressure versus the greenback, it is stretching gains versus ETH. BTC has the upper hand at the time of writing. Still, the two are equally matched from a top-down approach, explaining the consolidation.

Even so, ETH march can be traced back to late July, an expansion that spilled over to August before the slips of early September 2021. While there might be exhaustion, the short-term trends depend on reactions at critical levels. A close above 0.08 BTC may see ETH surge higher, perhaps even printing new H2 2021 highs.

On the flip side, the rally of the better part of Q3 2021 comes to a screeching halt assuming there are sustained losses below 0.07 BTC. This is the primary support of the current consolidation.

In that eventuality, it is easy to see that BTC would have the upper hand, even unwinding losses of August. For aggressive bears, targets of 0.065 would be feasible, an opportunity for traders who think ETH’s reign versus the BTC is over.

ETH/BTC Buying Opportunity to 0.11 BTC

On Trading View, one trader thinks ETH bulls could quickly push versus BTC to print 0.11 BTC in the medium term.

Bitcoin versus Ethereum to 0.11 BTC

Accordingly, spot rates offer perfect entries for traders waiting to load and swing in the analyst’s view.

This, per his analysis, holds provided ETH/BTC trends above 0.065 BTC. As mentioned earlier, this is a strong support zone that also marks August 2021 lows.

For ETH/BTC to be bullish and retain the swing of 2021, bulls must sustain prices above this mark. However, for the risk-on traders, a close above 0.08 BTC offers better entries, a launching pad for 0.11 BTC.

Bitcoin versus Ethereum Higher Highs, Path to 0.08 BTC

Another trader is also positive as per price action in the 2-day chart.

In his assessment, ETHBTC may expand to 0.08 BTC—September 2021 highs in a buy trend continuation of August.

Bitcoin-Ethereum to 0.08 BTC

While there were concerns, ETH is relatively stronger versus the BTC, explaining higher highs.

Notably, the analyst picks out an encouraging formation, that of higher highs which are printing out for the first time in more than three weeks.

Even so, for the race to 0.08 BTC to be accelerated, trading volumes must rise–an indicator of ETH demand.

ETH Bearish Below 0.08 BTC

Nonetheless, not everyone is excited about ETH. A trader on Twitter holds a bearish view of the coin as long as 0.08 BTC holds.

In that case, the analyst expects lower lows which would eventually force the ETH below 0.07 BTC, triggering a sell-off which effectively marks the end of July to August extended gains.

Charts courtesy of Trading View

Disclosure: Opinion is that of the author. Do your own research.

Passionate about Blockchain, Crypto, Blockchain, and Bitcoin. Excited of what lies ahead. Advocating adoption. HODLer!