Ethereum risks dropping to multi-week lows vs. Bitcoin by the end of April.
As of April 24, the ETH/BTC pair was down about 5.5% from its local high of 0.0709 BTC six days ago. The same period witnessed Ether declining nearly 15% and Bitcoin dropping 11.25% in U.S. dollar terms.For now, ETH holds above its 50-day exponential moving average near 0.0672 BTC. But if the March 2023 fractal is any indication, Ethereum's price could drop sharply below the support wave.
If the fractal plays out similarly in April, the downside target is 0.0627 BTC by the month's end, about 7% lower than the current levels, and a level that served as major support in March and April.
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