Ethereum breaks out against Bitcoin: Is a strong bull rally in the works?

Cointelegraph

Published Apr 01, 2021 09:37AM ET

Updated Apr 01, 2021 11:20AM ET

Ether's (ETH) price has broken out for the first time in 23 days in its Bitcoin (BTC) pair. It follows a high-profile announcement from Visa (NYSE:V) to use USDC, a stablecoin based on the Ethereum blockchain.

Although ETH/BTC saw a strong technical breakout, the uptrend has been fueled by firm fundamental catalysts, buoying the short-term bull case for ETH.

ETH/USD 1-day chart with key lines. Source: Rekt Capital, TradingView.com
Ethereum's active addresses. Source: Glassnode

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