On August 6, ETH/BTC reached an intraday high of 0.075 after a 1.5pc gain. Meanwhile, the pair’s gains were part of a larger comeback trend that began a month ago at 0.049, totalling to around 50pc gains. Meanwhile, a double bottom pattern resolves when the price breaks over its common resistance level and increases by the same amount as the distance between the first bottom and the resistance, according to technical analysis. Technically, Ether faces probable intermediate losses as ETH/BTC draws a compelling rising wedge. Meanwhile, technical indicators show that Ethereum is outperforming the US dollar. Because of a traditional bullish reversal pattern, the possibility for a 10pc breakout for ETH/USD in August is great. As a result, ETH could rally toward $1,940 in August, up 10pc from today’s price.
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