Ethereum traders turn bullish on ETH/BTC as ETF outflows persist

Ethereum has broken above a descending trendline against Bitcoin, prompting bullish calls from traders even as U.S. spot Ether exchange-traded funds continue to record withdrawals. Summary ETH/BTC traded near 0.02955 on Max Crypto’s chart after breaking above a descending trendline. Ash Crypto says Ethereum needs to clear resistance to confirm further strength against Bitcoin. Michaël van de Poppe expects altcoin outperformance but says Ethereum must lead the move. U.S. spot Ethereum ETFs recorded $139.7 million in net outflows on Nov. 2. According to charts shared by Ash Crypto and Max Crypto on Nov. 3, Ethereum has shown signs of improving strength against Bitcoin following October’s losses. Their posts highlighted two separate technical developments: a close above longer-term rising support and a breakout through a descending daily trendline. ETH/BTC charts show two different bullish signals On Max Crypto’s Binance daily chart, ETH/BTC traded near 0.02955 after moving above a descending resistance line drawn from earlier highs above 0.033. The chart showed the pair spending several sessions around 0.029 before its latest green candles carried it through the line. Earlier in the ...