Former Goldman Sachs Executive: ETH/BTC is about to make a major breakthrough

Former Goldman Sachs executive and founder of macro research firm Real Vision, Raoul Pal, stated that ETH/BTC is preparing for a major breakout. ETH/BTC is about to break through the diagonal resistance of a huge wedge pattern on the weekly chart. "The ETH/BTC chart is absolutely amazing and ready for the next big move: breaking through the giant wedge pattern. Let's see how it develops." In his chart, this trader hinted that ETH/BTC has broken through a downward channel, indicating an imminent bull market trend reversal.

 

His charts also suggest that ETH/BTC may break out of its multi-year declining wedge pattern. Other analysts are also starting to be bullish on Ethereum. Glassnode founders Jan Happel and Yann Allemann recently said that the sudden rise in ETH/BTC indicates that Ethereum itself and other alternative tokens are about to soar. "When ETH/BTC rises, altcoins will also rise. And we just broke upwards after long-term consolidation since late 2021."

 

Mark Yusko, CEO and founder of Morgan Creek Capital believes if Bitcoin reaches $150k then Ethereum could potentially reach levels around $15k.