Ether has ignored oversold signals for two months already, raising concerns that a bottom against Bitcoin is still not in.
Ethereum’s native token, Ether (ETH), has dropped to its multi-year lows against Bitcoin (BTC), prompting analysts to predict further declines in the coming weeks.
On March 13, ETH/BTC—a pair that tracks Ether’s strength against Bitcoin—dropped by over 1.50% to reach $0.022, its lowest level since May 2020.
ETH’s descent is part of its multi-year downtrend that started when it established a record high of $0.156 in June 2017. Since then, it has plunged by more than 85%, underscoring Ether’s growing weakness against Bitcoin.
