Ether continues to decline against Bitcoin, reaching its lowest level since May 2020. Analysts express concerns over the continuation of this trend.
ETH/BTC Decline and Its Trend
On March 13, ETH/BTC fell by 1.50%, hitting 0.022 BTC, its lowest since May 2020. This is part of a multi-year downtrend that began after ETH peaked in June 2017, resulting in an over 85% drop.
Potential for Reversal or Further Decline?
Technical indicators like the Relative Strength Index (RSI) suggest the downtrend may continue. A potential rebound depends on RSI stabilization and reclaiming key resistance levels.
Fundamental Reasons for Bearish ETH Outlook
Beyond technical aspects, Ether faces challenges from competing blockchains like Solana and disruptions in the traditional crypto market cycle due to Bitcoin ETF launches.
Ether's decline against Bitcoin is supported by both technical and fundamental factors. Monitoring RSI stabilization and bounce-back levels remains crucial for traders and analysts.
