![200 ema daily 200 ema daily](https://cryptonetdaily.com/wp-content/uploads/btc-2019-04-04.png)
![200 ema daily 200 ema daily](https://i1.wp.com/atozmarkets.com/wp-content/uploads/amicus/2020/05/EMA-and-SMA.jpg)
It would not be surprising to see something like that happen again but it would be very significant for that to happen before halving not because of the technicals but because many retail traders do not expect this at all. It did end up closing above the 200-day moving average multiple times but there was no follow through and it ended up declining lower in the days and weeks that followed. The daily chart for ETH/BTC shows the price struggling to break effectively past the 200-day moving average since 2019. Ethereum (ETH) has outpaced Bitcoin (BTC) for the day but this trend is not likely to last for long.
![200 ema daily 200 ema daily](https://themarketperiodical.com/wp-content/uploads/2021/06/image-145.png)
That being said, the price is not expected to rally much higher once it has tested the 200-day EMA. We can also see how the pair turned quite bullish soon as it broke the recent fib ring. We can see on the daily chart for ETH/BTC that the pair had already been trading above the 200-day moving average but now it wants to test the 200-day exponential moving average. Ethereum (ETH) broke past the 38.2% fib retracement level against Bitcoin (BTC) and is now ready to test the 200-day EMA.