Bitcoin stalls at resistance as Ethereum prints rare weekly death cross

Bitcoin bulls are hitting a wall just as they started eyeing a major breakout. While the largest asset by market cap remains hopeful, it failed to clear the key technical levels analysts were stalking this week. The bigger story is unfolding on the Ethereum charts, where ETH just signaled its first weekly death cross in years. This bearish indicator occurs when the short-term moving average dives below its long-term counterpart, often suggesting a period of prolonged pain for holders. It's a grim technical milestone that hasn't appeared on the weekly timeframe since the previous market cycle. Traders are now watching the $2,400 level to see if buy pressure can negate this technical breakdown. Bitcoin's sideways grind usually bores the market, but this time it's providing cover for a much uglier shift in the second-largest token. Will the ETH/BTC ratio find a floor here, or is the altcoin leader about to drag the rest of the market down with it?
Read full story at Decrypt →