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Ethereum Surges 8%, Analysts Split Between Bullish ‘Accelerated Phase’ And Underperformance Against Bitcoin

Ethereum (CRYPTO: ETH) is up 8% week-over-week with analysts expecting more upside shortly. However, the currency continues to underperform Bitcoin (CRYPTO: BTC). What Happened: The ETH/BTC chart printed 11 red candles in a row, prompting traders to call for Ethereum to further underperform its rival. Pseudonymous analyst Rager on Jan. 26 highlighted the ETH/BTC chart to show it had not been a “great trade against BTC in a long time.” He added, “The downtrend continues unless ETH can show strength, the spot ETF delay certainly did not help the case.” But after today’s gains, he tweeted, “Maybe…