An analyst believes that the Ethereum (ETH) token is ready to launch a “parallel” attack on BTC to reach all-time highs.

2-week predictions about crazy ETH movement

1 month ETH / BTC candlestick chart (bit stamp). Source: TradingView
Cointelegraph Markets Pro and TradingView data show that ETH / BTC is close to three-year highs, but the next step should be even stronger.

Ether vs Bitcoin (BTC) is one of the few bullish narratives in the short-term cryptocurrency markets this month.

In a tweet on December 3, the popular Galaxy Twitter account confirmed the positive outlook for the largest altcoin, and even indicates that ETH / BTC is set to surpass the already strong vertical movement.

“I have been waiting and publicly mapping ETH / BTC for the big picture for years, and now we are finally here,” he told subscribers next to the forecast chart.

“$ ETH is about to start building a parabola. Just wait and see how wrong things get better soon. ”

Commented on 2-week ETH / BTC candlestick chart (Binance). Source: Galaxy / Twitter
ETH / BTC reached 0.085 this week, the highest level since a short rally in May this year. In addition to these records, only 2018 is worth it, but this year on some stock exchanges the ceiling was significantly higher – 0.15.

For US dollars, the picture is also promising, with Ether hitting new highs, repeated in early November, and has remained largely in the 20% range of $ 5,000 since then.

Co-owner Bentoshi tweeted as part of separate comments on Ether Friday: “In theory, this should be a part if the forces continue to see this strong movement on the chassis foundation.”

Although not everyone points to a lower level of $ 5,000, ETH / USD is trading at around $ 4,550 at the time of writing.

ETH / USD (bit stamp) 1-day candlestick chart. Source: TradingView
Bitcoin hands old tablet case bull
When it comes to Bitcoin, sentiment is still conservative.

Related: The win will take $ 950 million Friday Bitcoin options

After weeks of disappointing price developments, analysts are beginning to rely more on bearish arguments, while remaining clearly optimistic about Bitcoin.

Intranet measurements are also not a cause for concern, reports Cointelegraph, but small signals such as long-term sales activity indicate less conviction.

Sentiment, which rose to neutral territory this week, is now back in fear territory, 31/100 Crypto Fear & Greed Index.

Source: CoinTelegraph