Ethereum (ETH) is down nearly 50% over the past year, eroding investor confidence in the second-largest cryptocurrency by market cap. However, crypto analysts suggest that ETH’s fortunes might be about to turn.
Ethereum Set For A Bullish Breakout?
Unlike Bitcoin (BTC), ETH has not significantly benefited from the bullish developments of 2024. While the approval of spot BTC exchange-traded funds (ETFs) opened the floodgates for institutional capital to flow into the top digital asset, ETH ETFs have failed to generate the same level of interest.
Moreover, ETH’s underperformance relative to BTC has only deepened. Crypto analyst Daan Crypto Trades shared the following two-week ETH/BTC chart showing how ETH has consistently broken through key high time-frame support levels against BTC…
