{"id":12280,"date":"2022-07-18T11:48:20","date_gmt":"2022-07-18T11:48:20","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/ethereum-price-breaks-out-hits-2-month-high-versus-bitcoin-is-the-rally-sustainable\/"},"modified":"2022-07-18T11:48:22","modified_gmt":"2022-07-18T11:48:22","slug":"ethereum-price-breaks-out-hits-2-month-high-versus-bitcoin-is-the-rally-sustainable","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/ethereum-price-breaks-out-hits-2-month-high-versus-bitcoin-is-the-rally-sustainable\/","title":{"rendered":"Ethereum price breaks out, hits 2-month high versus Bitcoin \u2014\u00a0is the rally sustainable?"},"content":{"rendered":"
Ethereum’s native token Ether (ETH) has successfully avoided a bearish technical setup to reach a two-month high against Bitcoin (BTC).<\/p>\n
The ETH\/BTC pair invalidated its prevailing “bear flag” pattern after Ethereum developers announced this July 14 that their long-awaited switch to proof-of-stake (called the Merge)\u00a0will most likely occur in September.<\/p>\n
ETH\/BTC has rallied by more than 22% since the announcement, reaching 0.067, its highest level since May 25. Furthermore, the pair’s sharp upside move has pushed its net retracement gains to 37% when measured from June 13’s local bottom of 0.049.<\/p>\n