The ETH/BTC trading pair is approaching a decisive point as a long-standing technical pattern continues to tighten around key levels.
Six Years of Compression
The ETH/BTC chart shows a descending triangle pattern that has been forming since 2018. This structure has seen Ethereum maintain a solid base at the 0.030–0.031 BTC range while producing lower highs under a persistent descending trendline. Over the past six years, this narrowing range has built pressure within the pair.
Possible Breakout and Its Consequences
A confirmed breakout above the triangle may open the way for ETH/BTC to aim at 0.060 BTC. Should the momentum persist, the pair may reach the 0.100–0.105 BTC ranges. These levels align with historical volume zones and key psychological areas. Momentum indicators are showing early signs of recovery, with the Relative Strength Index (RSI) rebounding from prior oversold conditions, pointing to strengthening demand.
Ethereum Renaissance Narrative Gains Attention
Market participants have started to monitor the ETH/BTC pair closely. The structure's development over six years has attracted attention due to its consistency and clear boundaries. It's possible that the breakout may signify the change of relative strength in Ethereum in the ongoing crypto cycle.
The technical analysis of ETH/BTC identifies significant support and resistance levels that could lead to a breakout, fostering potential growth for Ethereum in relation to Bitcoin.
