For those unfamiliar, the coined term "flippening" alludes to the point in time when Ethereum (ETH) outpaces Bitcoin (BTC) in market capitalization. As of December 2, 2021, Ethereum market capitalization is less than 50% away from flipping Bitcoin.

Market Cap Comparison

According to CoinMarketCap data, Ethereum's market cap stands at over $557 billion versus $1.1 trillion Bitcoin's market cap. So based on this ETH price would only need to rise to approximately $9,000, while at the same time, Bitcoin price would need to remain unchanged for the flippening to really happen.

ETHBTC Chart Analysis

Following Bitcoin's April 2021 crash, the ETH/BTC chart has bottomed out, and the price of ETH has outperformed Bitcoin.

Here are three technical factors in favor of Ethereum:

  1. Currently, ETH/BTC price is in the process of breaking out of a rectangle pattern, which can see the ETH price soaring faster than Bitcoin's price.
  2. The golden crossover signal on the ETH/BTC weekly chart happens when the 50 moving average crosses above the 200 moving average. This is a powerful bullish signal.
  3. Ethereum is trading above its previous all-time high. Actually, ETH broke above $4,384 has successfully retested it, and the bulls managed to defend that level which is now acting as support from where prices are currently soaring.