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BTC 
ETH Ethereum breaks through long-term resistance and targets US$3500.
Ethereum has broken through long-term resistance lines against the US dollar and Bitcoin. If these breakthrough levels can be held, the price is expected to move towards US$3500 and at the same time enhance ETH's strong performance relative to BTC.
Ethereum breaks open the way to US$3500
Ethereum has broken through a downward resistance line that has suppressed its daily trend for nearly a year. Analyst Crypto Patel pointed out that as long as ETH continues to stand above the previous trend line, this breakthrough will give bulls the initiative.
(ETH daily chart)
The current breakthrough area of approximately US$1850 to US$1900 needs to be converted into support. If it can hold on to this area, Ethereum is expected to rebound to $2350 and $2950 first, and then challenge the larger resistance range of $3350 to $3500.
However, US$3500 is still a distant and conditional target. If the daily closing price falls back below the trend line that was breached, it means that the effectiveness of the breakthrough will be weakened and the risk of another test of $1700 to $1550 will be increased.
ETH/BTC breaks 11-month downtrend
Analyst Ted said that Ethereum versus Bitcoin has broken through an 11-month downtrend line. This trend suggests that after months of weakness, ETH may enter a relatively strong phase.
(ETH/BTC Weekly Chart)
Currently, the currency pair needs to stabilize the trend line where it was broken and recover 0.03 BTC to confirm the successful breakthrough. If it continues to strengthen, the resistance levels of 0.032 BTC and 0.034 BTC will become the focus of attention.
However, if the weekly close falls below 0.028 BTC, the upward structure will be weakened. If it falls further to 0.026 BTC, it means that the overall downward trend of ETH/BTC is still continuing.
