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Things are heating up in Ethereum (ETH): Ahead in the Bitcoin race!
The upward trend of the ETH/BTC parity, which broke the downward trend after a 17-month break, gave great hope for altcoins.
Although the ETH/BTC chart, which has been in a falling trend since September 5, 2022, made a break in the past weeks, this situation was not permanent. Later, the increasing talk of Ethereum spot ETFs became a driving force for ETH. With this development, the pioneer of the altcoins, which started to attack again, was able to gain value against BTC. Which levels should be taken into consideration in parity for ETH, which currently leads the race?
There may be chaos as the Ethereum spot ETF decision gets closer!
We have witnessed how the ETF issue, perhaps one of the most critical developments in the crypto industry, affects the BTC price. The same agenda has slowly begun to appear on behalf of Ethereum. The positive views on Ethereum spot ETFs made altcoin investors especially happy. In addition, the ETH/BTC parity confirmed the downtrend break, increasing confidence in ETH.
ETH/BTC parity, which is currently 0.05889, will target higher levels as the ETF agenda heats up. In such a scenario, 0.06586 – 0.07198 – 0.07943 and 0.08555 levels can be followed as resistance, respectively. The breakout of 0.08555, the starting point of the trend from September 2022, will be one of the clearest signals of the bull season in altcoins. More demand for BTC than ETH may push the parity to 0.04644 and 0.03553 levels. In this process, there will be withdrawals in altcoins.