According to the data, the latest outlook and the structure in the Ether-Bitcoin parity indicate that the altcoin decline may continue. Will the decline in the cryptocurrency market gain momentum?

According to analysis and historical data, it is stated that a Death Cross is approaching on the Ether-Bitcoin chart. Death Cross is considered a bearish signal and marks a trend reversal on the chart.

Analysis suggests that the formation of Ether-Bitcoin parity is a warning for altcoin bulls and the crypto market may decline further.

Ether-Bitcoin parity gives danger signals

According to a report from CoinDesk, the future of altcoins does not look very bright. According to the news, it is stated that a Death Cross is approaching in the Ether-Bitcoin parity.

This chart pattern shows the intersection of the short-term moving average and the long-term moving average and usually indicates a bearish trend in the market. A Death Cross occurs when the short-term average falls below the long-term one. Analysis shows that this is a long-term downward trend.

ETH's weak performance and investors' risk aversion are amplifying the decline in altcoins. Therefore, the upcoming Death Cross is considered an expected scenario.

Technical analysis indicates that altcoin bulls should be worried if the ETH/BTC pair falls below the support level and a Death Cross occurs. Additionally, the options market also points to data supporting this scenario.

According to TradingView, the 50-week simple moving average (SMA) for ETH/BTC is closing in below the 200-week SMA. This upcoming Death Cross could trigger a decline in both BTC and ETH.

It is among the data that there has been a decrease of approximately 10% in the ETH / BTC parity this year. "ETH/BTC is testing a critical support level," Singapore-based QCP Capital said in a note. He stated that downward pressure increased and an environment that turned into fear was created.

On the other hand, the way BTC and ETH positions are priced on Deribit, the derivatives exchange, indicates that ETH will perform poorly in the near term.

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