There is a strong debate in the crypto community whether Bitcoin or Ethereum is a better buy for 2022. Ethereum prices reached strong resistance prices of $2,750 and $3,000. On the other hand, Bitcoin is also struggling to break past the $45,000 price mark. Despite Bitcoin being the market leader, crypto enthusiasts prefer Ethereum’s blockchain for its smart-contract features. Which is better to buy in 2022, Bitcoin or Ethereum? Let’s check the technical formations!
Is Ethereum Price still bullish?
The Ethereum price has formed a falling wedge during the correction over the past few weeks. This wedge serves as a continuation pattern, which is why we continue to expect bullish prices. The price could break out bullish soon as we are in the final third. Because of this, we assume that he will soon take the next step forward. The price could make a new high. This would happen once the price climbs above $3,280.
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Ethereum or Bitcoin – Which will Perform Better?
The Ethereum/Bitcoin pair has been able to form a trend line in the past few months. This trend line is heading towards the 0.08 BTC resistance. This creates an ascending triangle that could soon break out. Since the price is currently on the trend line, we assume that the Ethereum-Bitcoin price could soon rise more sharply. Ethereum would thus outperform Bitcoin, which is why we assess the situation in such a way that an investment in Ethereum could be currently more worthwhile.
The above analysis relies purely on technical analysis. On the other hand, it is very important to understand that asset prices are also affected by fundamental news. If Ethereum faces strong backlash from the community regarding a specific issue with its blockchain, Bitcoin can still outperform. That’s why it is very crucial to always keep a lookout for what’s happening in the crypto community and what the latest developments are.
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