Former Goldman Sachs executive Raoul Pal believes Ethereum (ETH<\/a>) is gearing up for a massive breakout against Bitcoin (BTC<\/a>).<\/p>\n Pal says<\/a> on the social media platform X that the Ethereum versus Bitcoin ratio (ETH\/BTC) is on the verge of breaking above the diagonal resistance of a massive wedge on the weekly chart.<\/p>\n \u201cThe ETH\/BTC chart is an absolute stunner and ready for the next big move: the break of the mega wedge. Let\u2019s see how it pans out.\u201d<\/em><\/p>\n Looking at his chart, the trader suggests that ETH\/BTC has already broken out of a descending channel, indicating an imminent bullish trend reversal. His chart also suggests that ETH\/BTC may break out of a years-long falling wedge pattern.<\/p>\n ETH\/BTC is trading for 0.0573 BTC ($3,241) at time of writing, down 1.58% in the past 24 hours.<\/p>\n Other analysts are also turning bullish on Ethereum.<\/p>\n The founders of analytics platform Glassnode, Jan Happel and Yann Allemann, recently said<\/a> that ETH\/BTC made a sudden move to the upside, indicating that ETH itself and other altcoins are about to soar.<\/p>\n \u201cWhen ETH\/BTC rallies, altcoins rally. And we have just broken higher after a long consolidation since late 2021.\u201d <\/em><\/p>\n CEO and founder of Morgan Creek Capital Mark Yusko believes<\/a> that Ethereum could reach the $15,000 level if Bitcoin hits $150,000.<\/p>\n Said Yusko,<\/p>\n \u201cI probably have no reason to go against what has existed for a long time which is the ratio between Bitcoin and Ethereum. It used to be almost exactly 10-to-1\u2026 <\/em><\/p>\n So let\u2019s say Bitcoin gets to $150,000\u2026 let\u2019s say it gets all the way back to 10-to-1. Then that would be [an Ethereum price of] $15,000. So, comfortably somewhere between $10,000 and $15,000.\u201d<\/em><\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>   Generated Image: DALLE3<\/span><\/em><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" Former Goldman Sachs executive Raoul Pal believes Ethereum (ETH) is gearing up for a massive breakout against Bitcoin (BTC). Pal says on the social media platform X that the Ethereum versus Bitcoin ratio (ETH\/BTC) is on the verge of breaking above the diagonal resistance of a massive wedge on the weekly chart. \u201cThe ETH\/BTC chart […]<\/p>\n","protected":false},"author":2,"featured_media":255116,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-255115","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/255115","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=255115"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/255115\/revisions"}],"predecessor-version":[{"id":255118,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/255115\/revisions\/255118"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/255116"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=255115"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=255115"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=255115"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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