Ethereum Could Be On The Brink Of Rally To Outpace Bitcoin, Commentator Predicts

Etheruem has been trading closely with Bitcoin over recent weeks and is currently consolidating. The second largest cryptocurrency by market cap is facing resistance between $1,250 and $1,300, data from CoinMarketCap shows.

Similarly to Bitcoin, ETH traders have been buying the dip which has kept the price from crashing. One popular crypto commentator stated that they expected ETH to see massive upside against both BTC and USD in the near-term.

The commentator, resolutemex, argued in a tweet that Bitcoin has been holding ETH back from hitting its all-time-high price.

“ETH: I’m sure if ETH wasn’t as tied to BTC as it is (due to being #1 and #2) It would have printed ATH USD a while ago," they wrote. "However, I think it’s shackles are soon to be released and the BTC pair looks very strong. BTC must prepare to be ratio’d.”

At the time of writing ETH is trading hands for $1,236 and is down 1.73%. Ether's reaction to the $1,300 price level will be a strong indicator of how it will trend over coming weeks.

By Emily Mason

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