Ethereum'due south Ether token (ETH) is due to launch a "parabolic" attack on BTC to beat all-fourth dimension highs, i analyst believes.

2-week predicts "crazy" ETH movement

ETH/BTC 1-calendar month candle nautical chart (Bitstamp). Source: TradingView

Information from Cointelegraph Markets Pro and TradingView shows ETH/BTC sitting near three-twelvemonth highs — but its next move should be even stronger.

Ether against Bitcoin (BTC) is 1 of the few bullish narratives in the short-term crypto markets this month.

In a tweet on Dec. three, popular Twitter account Galaxy reinforced optimistic predictions for the largest altcoin, even suggesting that ETH/BTC is nearly to eclipse its already strong operation with a vertical move.

"I've been waiting and publicly charting ETH/BTC on the large picture for years, and now nosotros are finally hither," he told followers alongside a predictive chart.

"$ETH is virtually to start going into parabolic mode. Just wait and see how crazy things are nigh to go."
ETH/BTC ii-week annotated candle chart (Binance). Source: Galaxy/Twitter

ETH/BTC reached 0.085 this week, its highest since a brief spike in May this year. Beyond that, only 2022 stands in the fashion of new all-fourth dimension highs, that year however seeing a significantly college ceiling of upwards to 0.15 on some exchanges.

In United States dollar terms, the picture is similarly promising, Ether having set repeated new records in early November and staying broadly inside 20% of $5,000 since.

"This in theory should be the role where if strength continues we encounter that strong run based on structure," fellow trader Pentoshi tweeted every bit office of separate comments on Ether Friday.

While not everything points to the $five,000 level falling, ETH/USD traded at around $iv,550 at the time of writing.

ETH/USD 1-day candle chart (Bitstamp). Source: TradingView

Bitcoin former easily tweak bull case

For Bitcoin, meanwhile, the mood remains conservative.

Related: Victory is for the taking in Friday's $950M Bitcoin options decease

After several weeks of underwhelming price performance, analysts are showtime to give more credence to "surly" theses while ostensibly remaining bullish on BTC.

As Cointelegraph reported, on-chain metrics too present little cause for concern, withal small-scale cues, such as long-term holder selling action, signal to decreased confidence.

Sentiment, having risen to "neutral" territory this calendar week, is now back in the "fright" zone, the Crypto Fear & Greed Alphabetize measuring 31/100.

Crypto Fear & Greed Index. Source: Culling.me