blockchainreporter
  • News
    • Altcoins
    • Bitcoin
    • Blockchain
    • Ethereum
    • Adoption
    • NFT
    • DeFi
    • Metaverse
  • Education
  • Glossary
  • Advertise
No Result
View All Result
Bet Now
blockchainreporter
  • News
    • Altcoins
    • Bitcoin
    • Blockchain
    • Ethereum
    • Adoption
    • NFT
    • DeFi
    • Metaverse
  • Education
  • Glossary
  • Advertise
No Result
View All Result
blockchainreporter
Bet Now
No Result
View All Result
Bitcoin
BTC
1d:
7d:
Ethereum
ETH
1d:
7d:
Polkadot
DOT
1d:
7d:
Solana
SOL
1d:
7d:
Ripple
XRP
1d:
7d:
Shiba INU
SHIB
1d:
7d:

Market: Ether Outcompetes Bitcoin, Nearing a Chief Crossover

Umair Younas by Umair Younas
December 3, 2022 - 12:00 pm
in ethereum news, Market
0
Ethereum
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

The price of Ether has outpaced Bitcoin during the previous ten days, with an increase of 15.4% while Bitcoin rose by just 7.7%. The struggle between the couple during the same span has increased by 39%, utilizing the 14-period Relative Strength Index (RSI) in the form of a proxy to accelerate the price. The technical indicator RSI measures the extent of the changes in an asset’s price. Investors can use it to specify the price movement’s speed, permitting comparison with the former price levels. The FTX collapse aftershocks and the Ankr Protocol hack have also kept the whole market under pressure. BNB seems the most affected right now as it has lost 6.44% within the last 7 days.

Ether Shows Remarkable Increase against Bitcoin

At present, the Ether and Bitcoin’s RSI is around 57.22. Some inconclusive results have been found while RSI levels’ filtering between 55 and 58, in line with the data since 2017. The 1,845 observations have shown that the ETH/BTC pair’s RSI has declined within the respective range only 116 times. The normal return in 7 days after each of those occurrences was nearly 2.1% greater. The thirty-day return appeared to be very less impressive at a 0.1% increase, signifying a likely trail off in the prices.

The likely crossing of a 10-day moving average of the pair above the moving average of 100 days is supposed to take place shortly. The respective crossover of the moving average takes place when a moving average of a shorter timespan outcompetes a moving average of a longer span, indicating bullish sentiment. In the case of Bitcoin, the FTX contagion has been effectively impacting the primary crypto token and some are optimistic about a bullish revival of BTC.

Bitcoin Remains Steady with No Potential Bottom Signal

Formerly, 3 such attempts ultimately failed this year. This indicates that there is a requirement to wait for the time when the token’s price reaches above its moving average of 21 weeks (at $20,851). Then it will be able to move toward a sustainable rally as well as a cyclical low, as per a Research and Strategy Head at Matrixport (a crypto service provider).

BTC declined from the 21-week moving average thereof in November 2022. Thus, it dropped to a 2-year low at $15,460. The experts keep on categorizing 14,500.15 as well as 10,432.73 as the prominent downside targets. The relative strength index (RSI) does not indicate another cyclical price decrease. It means that while Bitcoin’s price moves below, RSI keeps momentum or spikes up.

Tags: AltcoinsBitcoinBTCCryptoCryptocurrencyETHEthereumMarket
ShareTweet
Umair Younas

Umair Younas

Umair Younas is a cryptocurrency-related content writer linked with this work since 2019. Here, at Blockchainreporter, he serves as a news and article writer. He is a crypto, blockchain, NFTs, DeFi, and FinTech enthusiast. He has strong command over writing authentic reviews about brokers and exchanges and he has collaborated with our education team to write educational content as well. He has a dream to raise awareness among people about digital currencies. His works are well-researched and brimmed with information hence they provide fresh insights. Stay tuned to his posts if you want to stay up-to-date with the crypto-verse.

Recommended For You

Top Crypto News This Week, Bitcoin and Ethereum in the Spotlight

by Umair Younas
January 29, 2023 - 5:10 am
0
Crypto Trading

This week, 23 Jan - 28 Jan, we saw hustle and bustle in the crypto market especially from Bitcoin, Ethereum and Celsius' narrative.

Read more

Aligned Capital Puerto Rico-Based DeFi Web3 Infrastructure Startup

by Mushu Butt
January 28, 2023 - 4:08 am
0
DeFi

Aligned Capital Puerto Rico-based DeFi Web3 infrastructure startup exits stealth with $34M in funding to enhance its presence in the computing market.

Read more

SoftConstruct-Incubated Fastex Achieves a Big Milestone of Raising $23.2M in Unprecedented Fasttoken Sale

by Mushu Butt
January 27, 2023 - 5:23 pm
0
fastex

SoftConstruct-Incubated Fastex achieves a big milestone by raising $23.2M in its Fasttoken sale, cementing its position as a leader in the industry.

Read more

Upcoming FOMC Meeting and CPI Data Could Crush Bitcoin’s Bullish Market Outlook

by Mushu Butt
January 27, 2023 - 6:30 am
0
Bitcoin

The upcoming FOMC meeting and Consumer Price Index data could disrupt the bullish outlook for Bitcoin, according to crypto assets trading firm.

Read more

BIT Collaborates with DWF and Darley Technologies to Expand TON Services in Crypto Options Market

by Umair Younas
January 26, 2023 - 4:20 pm
0
unique

With the help of its reliable partners, BIT is working hard to make crypto solutions available to institutional and retail investors alike.

Read more
Next Post
Genesis Mining

Supreme Court of China Supports Genesis Mining for Its Claim of up to 485,000 Crypto Mining GPUs

PARTNERS LIST

PRESS RELEASE

China’s “Instagram” chooses Conflux Network for permissionless blockchain integration

by chainwire
January 25, 2023 - 8:42 am
0

Toronto, Canada, 24th January, 2023, ChainwireLittle Red Book, (XiaohongShu), the Chinese version of Instagram integrates Conflux Network as permissionless blockchain...

snowfall protocol

Snowfall Protocol (SNW) Takes the Spotlight as Waves (WAVES) Founder Unveils New ‘Undepeggable’ Stablecoin and Ripple’s (XRP) New Commercial Released

by Max Clark
January 25, 2023 - 7:02 am
0

The cryptocurrency market has seen its fair share of ups and downs, but one project that seems to be gaining...

Snowfall

Binance (BNB) Will Back Terra Classic’s Upgrade, Cardano (ADA) Introduces Custom-built Sidechains, Snowfall Protocol (SNW) to Have its Grand Launch Soon

by Wayne Jones
January 24, 2023 - 4:53 am
0

While the former two are in the headlines due to recent changes in their ecosystem, Snowfall Protocol (SNW) is all...

Snowfall Protocol

Terra Classic (LUNC) and Polygon (MATIC) Shows Instability Signs, While Snowfall Protocol (SNW) Presale Raises $4M

by Max Clark
January 23, 2023 - 12:00 pm
0

This article will critically examine why Snowfall Protocol (SNW) is gaining ground and why Polygon and Luna Classic's (LUNC) price...

BlockchainReporter is a trusted name in the cryptocurrency and blockchain technology news space, keeping its readers abreast of the latest and most significant trends in the industry.

Here at BlockchainReporter, our team of global writers is dedicated to providing price analysis on leading cryptocurrencies and covering the latest developments pertaining to bitcoin news, altcoins news, blockchain news, NFT news and cryptocurrency adoption news from around the world.

News

  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • Adoption
  • NFT
  • DeFi
  • Metaverse

Info

  • Education
  • Glossary
  • Market
  • Press Release

Company

  • About Us
  • Terms & Conditions
  • Advertise
  • Sitemap
  • Contact

@2022 – Blockchainreporter.net. All Right Reserved.

No Result
View All Result
  • News
    • Altcoins
    • Bitcoin
    • Blockchain
    • Ethereum
    • Adoption
    • NFT
    • DeFi
    • Metaverse
  • Education
  • Glossary
  • Advertise

@2023 - Blockchainreporter.net. All Right Reserved.