Log in

Market Direction

ETH continues to underperforms BTC, but it has a bright future

Updated: Jul 25, 2024
Published: Oct 24, 2023
0
Share:

ETH is also overbought here, even though it has largely underperformed BTC.

Post Feature Image

TLDR

  • ETH lagging BTC but cleared above key $1,690 and $1,786 MAs.
  • Facing resistance at the $1,850 area, the bull run target remains $7k-$10k.
  • Overbought like BTC across timeframes, so a pullback is very possible.
  • We need to see $1,850 being flipped into support before the next major leg-up.
Disclaimer: Not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results. “One Glance” by Cryptonary sometimes uses the RR trading tool to help you quickly understand our analysis. They are not signals, and they are not financial advice.

Technical analysis

ETH has moved up really nicely, as has every major coin pretty much. But, ETH has underperformed in relation to BTC. 

ETH price has now moved into the horizontal resistance area of $1,823 to $1,853 - a resistance zone. Above this, the next major resistance is at $1,933. 

What’s also positive is that ETH has cleared above its main weekly and daily MAs at $1,690 and $1,786. It would be really positive if ETH could remain above one of these MAs and form new support above one of these MAs. Of course, $1,786 would be better than $1,690. Note: MA is not shown on the chart to keep things neat.

aligncenter size-full wp-image-289883

RSI and funding rates

The RSI is now well into overbought levels, even though it was nowhere near such levels yesterday. Again, this is the most overbought the market has been since January 2023 – it is overbought on the daily, 12-hour and 4-hour timeframes. Currently, there are no clear divergences.  

ETH is very positive regarding the funding rates - like the rest of the market. Most of the short open Interest was wiped out yesterday in the large move-up. 

Conclusion on trading ETH

Like the rest of the market, ETH is overbought here, and fresh longs shouldn’t be encouraged. ETH is undervalued today compared to where it’ll likely be in the bull run. However, if BTC can see a slight pullback, we should expect ETH to do the same.  

Action

  • ETH has moved drastically higher but is now hitting a main resistance area between $1,823 and $1,853. 
  • Fresh longs shouldn't be encouraged because the market is so overbought here. 
  • ETH is still undervalued relative to where it could be in the bull run. A bull run target for ETH would be $7,000 to $10,000.

100% Success Money Back Guarantee

If our approach doesn’t outperform the overall crypto market during your subscription, we’ll give you a full refund of your membership. No questions asked. For quarterly and monthly subscribers this is applicable once your subscription runs for 6 consecutive months.

Terms & Conditions apply

Star

Trusted by 300,000+ traders

Take your next step towards crypto success

Save 50%

$799/year

Get everything you need to actively manage your portfolio and stay ahead. Ideal for investors seeking regular guidance and access to tools that help make informed decisions.

VisaCardImageMsCardImageCoinbaseCardImageSolanaCardImage

For your security, all orders are processed on a secured server.

What’s included in Pro:

  • Success Guarantee, if we don’t outperform the market, you get 100% back, no questions asked

  • 24/7 access to experts with 50+ years’ experience

  • All of our top token picks for 2025

  • Our latest memecoins pick with 50X potential

  • On hand technical analysis on any token of your choice

  • Weekly livestreams & ask us anything with the team

  • Daily insights on Macro, Mechanics, and On-chain

  • Curated list of top upcoming airdrops (free money)

Our track record speaks for itself

With over 2.4M tokens and widespread misinformation in crypto, we cut
through the noise and consistently find winning assets.

/images/advertorial/corpcomm3.webp
/images/advertorial/corpcomm4.webp
/images/advertorial/corpcomm5.webp

Frequently Asked Questions

Yes. We've consistently identified winners across multiple cycles. Bitcoin under $1,000, Ethereum under $70, Solana under $10, WIF from $0.003 to $5, PopCat from $0.004 to $2, SPX blasting past $1.70, and our latest pick has already 200X'd since June 2025. Everything is timestamped and public record.

No. When we founded Cryptonary in 2017 the market was new to everyone. We intentionally created content that was easy to understand and actionable. That foundational principle is the crux of Cryptonary. Taking complex ideas and opportunities and presenting them in a way a 10 year old could understand.

Signal vs noise. We filter out 99.9% of garbage projects, provide data backed analysis, and have a proven track record of finding winners. Not to mention since Cryptonary's inception in 2017 we have never taken investment, sponsorship or partnership. Compare this to pretty much everyone else, no track record, and a long list of partnerships that cloud judgements.

We share highly sensitive, time-critical research. Once it's out, it can't be "returned." That's why membership is annual only. Crypto success takes time and commitment. If someone is not willing to invest 12 months into their future, there is no place for them at Cryptonary.

Yes. You will have 24/7 to the team that bought you BTC at $1,000, ETH at $70, and SOL at $10. Through our community chats, live Q&As, and member only channels, you can ask questions and interact directly with the team. Our team has over 50 years of combined experience which you can tap into every single day.

Daily. We provide real-time updates, weekly reports, emergency alerts, and live Q&As when the markets move fast. In crypto, the market moves fast, in Cryptonary, we move faster.

If our approach to the market doesn’t beat the overall crypto market during your subscription, we’ll give you a full refund of your membership fee. No questions asked. For quarterly and monthly subscribers this is applicable once your subscription runs for 6 consecutive months.

Recommended from Cryptonary
BTC $100k Target Hit, SFP Confirmed
PRO
Market Direction
BTC $100k Target Hit, SFP ConfirmedUpdate on our Nov 3rd/7th forecast: BTC moved exactly to our $100k-$102k target zone as predicted. W...
13 min read
Nov 10, 2025
Market Direction: At $100k - Your 7-Day Action Plan
PRO
Market Direction
Market Direction: At $100k - Your 7...Markets hit major support zones with BTC at the $100k level. Key altcoins face rejection; reversal o...
11 min read
Nov 7, 2025
Privacy Coins Lead the Way: Bullish Setups and Key Levels to Watch
PRO
Market Direction
Privacy Coins Lead the Way: Bullish...Privacy sector coins show bullish setups and key levels as they outperform during this crypto correc...
9 min read
Nov 4, 2025