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Ethereum Losing Value Relative to Bitcoin

Written By: ChartChamp

September 16, 2024

Over the weekend ETH/BTC was trading at the lowest level in four years, which implies that Ethereum continues to show weakness and lose value relative to Bitcoin. ETH is trading near support at $2,307.58, but is showing some concerning bearish price action here. There is strong sell pressure into support, and ETH will have to hold above $2,307.58 to remain bullish. For now I think ETH is likely to drop lower to the $1,928 – $2,100 support zone.

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