Ethereum's market position is improving due to new technical signals and changes in liquidity. Key metrics show ETH gaining strength against Bitcoin.
Key Changes in ETH/BTC Ratio
Traders and analysts are noting a significant change in the ETH/BTC ratio. Analyst Niels reported that the monthly MACD for this ratio crossed levels that haven't changed in the last five years. This shift allowed turning resistance into support. He believes that the ratio may remain sideways for some time before continuing to rise. Niels set a target range of 0.065 to 0.07 by the first quarter of 2026.
Ethereum Price Movements and Key Resistance Levels
Ethereum's price action remains the subject of discussion. Analyst Ted Pillows noted that ETH faced rejection at $4,500 but quickly bounced back. He pointed out that this level will be crucial—either as a breakout point or as a barrier that could push prices lower. Other market participants predict that ETH may first dip to $3,700 before rising again. Market emotions remain high, and traders are carefully watching developments.
Exchange Balances and Whale Activity
On-chain data adds another layer to the picture. Cas Abbé noted that Ethereum's exchange balances turned negative for the first time, indicating that more ETH is leaving exchanges than entering them. This shift suggests a decrease in selling pressure and points toward a long-term holding trend. Additionally, analysts highlighted movement from a major holder who transferred a significant amount of ETH for staking. Declining exchange balances and long-term holders indicate tighter liquidity conditions that could impact Ethereum's price movements.
Recent weeks have shown significant changes that may impact Ethereum's price. Traders and analysts continue to focus on key levels and the actions of major holders, potentially leading to new phases of growth.
