Analysis of the ETH/BTC pair highlights significant price declines, as Ethereum approaches critical demand and support levels.
Structural Analysis of ETH/BTC
The dynamics of ETH/BTC over the past years show significant cycles and corrections. In 2021, ETH peaked at around 0.155 BTC, followed by a prolonged decline. Analyst Crypto Patel noted that the pair is currently in a long-term compression range, suggesting the potential for major market reversals in the future.
Long-Term Trends and Support Levels
Since 2020, ETH/BTC has been in a demand zone between 0.0171 and 0.0220 BTC, which has been active since 2019. At this level, price shows reduced volatility and multiple reactions at support. Patel highlights the levels of 0.036 BTC and 0.045 BTC as intermediate resistances that need to be reclaimed for a potential upward movement.
Outlook and Possible Scenarios
According to the latest analysis, ETH/BTC has reached a level where 1 BTC equals 53 ETH, reflecting the ongoing bearish trend. While testing the 2020 support, Patel emphasized the need to watch for potential reversal signs, especially if the price can close above 0.0215 BTC.
The analysis of ETH/BTC underscores the current struggles in the Ethereum market as it approaches historical demand and support levels. The outlook remains uncertain, and markets continue to monitor developments closely.
