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$ETH / $BTC
As long as ETHBTC continues to reject this downward trend line, I believe we are very likely to see $ETH reach a new cycle low against its fiat currency pair.
This week, we started to see ETHBTC break down from its descending triangle support, and now its trading price is below the level it was at during $60K when BTC was at that level.
So if the market reverses again, ETH is very likely to hit a new low before BTC returns to $60K .
The key now is whether ETH can hold the cycle low set against BTC last April, which is a macro higher low on the chart.
As long as that level holds, ETH can still form a macro higher low and reset for the next cycle. #分析师剑客