Analysis: ETH/BTC exchange rate falls below support level, may fall into death cross technical pattern

Bitget App

Trade smarter

2024/04/06 06:32

By:

According to Mars Finance news, technical analysis is sending out several warning signs to altcoin bulls, with the ETH/BTC exchange rate falling below support and on the verge of falling into a death cross technical pattern. Options markets show investors are taking the signal.

Note: A death cross occurs when the short-term moving average is below the long-term moving average, signaling a potential long-term bearish momentum shift. According to data from TradingView, the 50-week simple moving average (SMA) of the ETH/BTC exchange rate seems likely to cross over with the 200-week moving average. The impending death cross signals risk aversion or long-term underperformance of ETH and other altcoins relative to BTC. The ETH/BTC exchange rate is down nearly 10% this year to 0.048. (CoinDesk)

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops

Lock your assets and earn 10%+ APR

Lock now!

The Federal Reserve's Beige Book shows little change in U.S. economic activity, with increasing divergence in the consumer market. JPMorgan predicts a Fed rate cut in December. Nasdaq has applied to increase the position limit for BlackRock's Bitcoin ETF options. ETH has returned to $3,000, signaling a recovery in market sentiment. Hyperliquid has sparked controversy due to a token symbol change. Binance faces a $1 billion terrorism-related lawsuit. Securitize has received EU approval to operate a tokenization trading system. The Tether CEO responded to S&P's credit rating downgrade. Large Bitcoin holders are increasing deposits to exchanges. Summary generated by Mars AI. The accuracy and completeness of this summary are still being iteratively improved by the Mars AI model.

MarsBit•2025/11/30 21:01

Mars Morning News | ETH returns to $3,000, extreme fear sentiment has passed

The central bank sets a major tone on stablecoins for the first time—where will the market go next?

The People's Bank of China held a meeting to crack down on virtual currency trading and speculation, clearly defining stablecoins as a form of virtual currency with risks of illegal financial activities, and emphasized the continued prohibition of all virtual currency-related businesses.

MarsBit•2025/11/30 21:01