Ethereum will gain 50% this year compared to Bitcoin

According to a new analysis of on-chain data, Ethereum is poised for a massive surge this year of up to 50% over rival Bitcoin.

According to a technical setup known as an inverse head and shoulders (IH&S) pattern, Ether is expected to explode over the next few months, mimicking a bullish pattern similar to 2021, where it competes with BTC in terms of growth.

The IH&S pattern is characterized by the formation of a triple bottom below the general resistance of the neckline. These formations are the middle trough (head), which is deeper than the other two troughs (shoulders), and are nearly equal in length.

If the IH&S pattern resolves when the price breaks through the neckline resistance after forming the right shoulder, then the price will rise to the maximum distance between the lowest point of the head and the neckline resistance.

In simpler terms, Ethereum's growth from 2019 to 2021 follows this pattern. During that period, it competed with Bitcoin for the best-developed cryptocurrency.

Will Ethereum and Bitcoin Change This Summer After Ether ETF Approved?

On Monday, the ETH/BTC pair reversed as an initial bottom appeared. To initiate this spike, it will next need to reach the popular neckline resistance at around 0.061 BTC.

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