The ETH/BTC pair shows strong signs of recovery after reaching cycle lows. Attention is focused on the support level at 0.23 and potential growth opportunities.
Recovery of 0.23 Level
ETH/BTC is trading around 0.23 after a sharp rebound from the cycle low of 0.11. The yearly candle shows a strong recovery wick, indicating that buyers are defending the range lows and may be preparing for a push toward higher resistance levels.
Breakout Levels and Cycle Structure
The current structure indicates a potential cycle reset. Buyers have stepped in strongly, absorbing selling pressure while leaving behind a clear yearly wick. If strength continues, the pair may gradually grind toward the cycle ceiling at 0.50. However, short-term pullbacks are probable if 0.23 fails to hold.
Broader Market Context
The ETH/BTC movement coincides with the volatility in Bitcoin and Ethereum prices. Bitcoin is currently priced at around $117,388, while Ethereum is at $4,395.10. These figures reflect short-term corrections despite stronger weekly trends.
The current situation in the ETH/BTC market, combined with historical data, may indicate upcoming movements toward higher levels, making the market interesting to observe for potential changes in price trends.
