ETH slides vs. BTC in second half of January
The ETH/BTC pair declined nearly 9.25% on Jan. 24 from its local top of 0.0779 BTC established on Jan. 11. Since the start of the year, Bitcoin is slightly outpacing Ether in USD terms, rising 38% versus 35%, respectively.
ETH/BTC daily candle price chart. Source: TradingView
Interestingly, Ether’s pullback versus Bitcoin has landed its price at the bottom of its EMA ribbon range, as shown below.
ETH/BTC weekly candle price chart. Source: TradingView
The EMA ribbon indicator shows numerous exponential moving averages of increasing timeframe on the same price chart. Dropping below the ribbon range increases