Why Ethereum traders are closely watching ETH/BTC charts — Spoiler alert, it’s bullish
After lagging Bitcoin for most of 2024, Ethereum appears to be in the early stages of a bullish trend reversal. Here’s why traders are closely watching the ETH/BTC pair.
Ether (ETH) is currently exhibiting its most significant weekly gains since May 2024. While BTC’s momentum has stalled over the past 24 hours, ETH’s price reached a quarterly high of $2,956, and the renewed price action triggered a 6% uptick for the ETH/BTC chart.
With Ethereum briefly leading Bitcoin (BTC) for the first time in months, the altcoin-BTC pair has caught the market’s attention for a potential trend reversal.
A pivotal daily breakout on the Ether daily chart is one key reason for the revived interest in the ETH/BTC trend.
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Author: Biraajmaan Tamuly
