In his latest Twitter post, analyst Josh Olshevich mentioned that the price of Ethereum against Bitcoin is about to make a golden cross.
He also expects that the Ichimoku cloud will signal a bullish trend at ETH / BTC for the first time since mid-2018.
A golden cross is observed when the 50-day simple moving average crosses over the 200-day.
Although seen as a lagging indicator, the golden cross can help traders spot market reversals.
E terium reached its highest price on February 7, 2018, when traders were willing to pay 0.123 BTC for 1 ETH.
This came almost a month after the second-largest cryptocurrency reached its highest dollar value of $ 1,423 on January 14 of that year.
However, Eterium not retained earnings long as collapsed by 86% against Bitcoin . Olszewicz now predicts that the price of Ethereum will jump back to 0.35 BTC from the current 0.025 BTC.
On June 7, Ethereum fees surpassed those of Bitcoin, which occurred in only 8% of all days since the two networks existed, according to Glassnode.
The Etherscan resource shows that Etherium addresses have exceeded 100 million, with over 40 million of them holding ETH.
Also, the release of Etherium 2.0 – the long-awaited network update – seems to be approaching.