ETH/BTC exchange rate may hit death cross, altcoins at risk
According to Odaily Planet Daily, technical analysis is sending warning signals 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. A death cross occurs when the short-term moving average is below the longer-term moving average, signaling a potential long-term bearish momentum shift. According to TradingView data, the 50-week simple moving average (SMA) of the ETH/BTC exchange rate seems likely to cross over with the 200-week moving average. This upcoming death cross signals risk aversion or long-term underperformance relative to BTC, ETH, and other altcoins. The ETH/BTC exchange rate has fallen nearly 10% this year to 0.048.
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.
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