Former Goldman Sachs Executive: ETH/BTC May Experience a Major Breakthrough

ChainCatcher news, 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 the diagonal resistance of a massive wedge pattern on the weekly chart.

"The ETH/BTC chart is absolutely amazing and ready for the next big move: breaking out of the huge wedge. Let's see how it develops." In his chart, the trader hinted that ETH/BTC has broken out of a downward channel, indicating an impending bullish trend reversal. His chart also suggests that ETH/BTC may break out of a multi-year descending wedge pattern.

Other analysts are also starting to turn bullish on Ethereum. Glassnode founders Jan Happel and Yann Allemann recently stated that the sudden rise of ETH/BTC indicates that Ethereum itself and other altcoins are about to surge. "When ETH/BTC goes up, altcoins also go up. And we just broke upward after a long consolidation since the end of 2021."

Mark Yusko, CEO and founder of Morgan Creek Capital, believes that if Bitcoin reaches $150,000, Ethereum could reach $15,000.