Ethereum'south native token, Ether (ETH), has the prospect of logging a 40% price rally against its tiptop rival, Bitcoin (BTC), per a archetype technical blueprint.

Dubbed a "symmetrical triangle," the construction develops after the cost forms a series of higher lows and lower highs. Doing and so results in a convergence of ii trendlines with a degree of symmetry, which appears a a triangle.

Analysts treat symmetrical triangles as trend continuation indicators — i.e., they usually send prices in the direction of their previous trend following a clear breakout. Equally a issue, the ongoing ETH/BTC price boom could undergo an upside continuation afterward having fluctuated inside a similar triangle structure over the last four months.

ETH/BTC weekly chart featuring a symmetrical triangle setup. Source: TradingView

Part of the reason is Ether's attempt to break above its triangle consolidation setup after rising 7 weeks in a row, for a full growth of 179%. If it does, the ETH/BTC exchange rate could ascent by every bit much every bit the triangle's maximum height (approximately 0.025 BTC) from the bespeak of its breakout (approximately 0.069 BTC).

That puts the pair'due south profit target almost 0.094 BTC, most xl% above 0.069 BTC.

Ether's outperformance

Ether's bullish outlook against Bitcoin is emerging as information technology outperforms the benchmark cryptocurrency in dollar terms on an intraday basis.

On Aug. 31, the ETH/USD substitution rate rose six.61% to $3,442, its highest level in three months. Comparatively, Bitcoin posted dwarfed gains, rising but 2.5% to $48,169, revealing a higher interim demand for Ether tokens among traders.

ETH/USD vs. BTC/USD daily nautical chart. Source: TradingView

Dmitry Mishunin, founder and CEO of smart contract audit firm HashEx, predicted Ethereum and like "smart contract-enabling blockchains" to continue outperforming Bitcoin in the long run, citing their superior utility.

"The duo of Cardano and Ethereum has the propensity to harbor countless innovative projects," Mishunin said, calculation that Ethereum has the potential to flip Bitcoin in the long run.

"Bitcoin but relies on its capped supply and the starting time-mover advantage, a trend many investors are beginning to substitute for unique applied science that can drive a blockchain-dominated future."

Jon Ovadia, founder and CEO of crypto exchange Ovex, also said that Ethereum has meliorate fundamentals than Bitcoin at this moment, largely due to its recent network update that aimed to add together deflationary force per unit area to Ether through a fee-burning mechanism.

"Thus far, about 146,878.7 ETH (worth approximately $492.3 million) have been burnt from the full circulating supply," Ovadia said, adding that:

"The potential for a more superior Proof-of-Stake infrastructure through the highly anticipated launch of Ethereum 2.0 volition too make the blockchain more than usable, thus driving the coin's utility and its price growth."

Bitcoin's outlook, meanwhile

Thus far in 2022, Ether has grossly outperformed Bitcoin due to its incremental adoption in the booming decentralized finance (DeFi) and nonfungible token (NFT) industries. As it stands on Aug. 31, the year-to-date profits for Ether are 373% versus Bitcoin's 63.55%.

Related: Bitcoin rejects $51K after Michael Saylor reveals new BTC purchase — What's next?

Nevertheless, Mike McGlone, senior commodity strategist at Bloomberg Intelligence, said Bitcoin would eventually take hold of up to Ether'southward gains, thus leading to $100,000 by the end of 2022 — more double the price at which it is trading at the fourth dimension of writing.

Fundstrat Global Advisors' Tom Lee also envisions a six-figure bid for Bitcoin as long every bit it stays to a higher place its boilerplate cost of the last 200 days — a long-term momentum measure.

The views and opinions expressed hither are solely those of the author and practice non necessarily reflect the views of Cointelegraph. Every investment and trading move involves gamble, and you should carry your own enquiry when making a determination.