- ETH/BTC is nearing a key demand zone after losing 75% of its 2021 cycle top.
- Long-tail wicks and weekly closes suggest strong accumulation near 0.0171 BTC.
- Bearish structure persists as ETH/BTC hits 1 BTC = 53 ETH for the first time since 2020.
Ethereum’s value against Bitcoin has declined over 75% from its 2021 peak, approaching key historical accumulation zones. The ETH/BTC pair now trades within a long-term compression range, reflecting conditions that have previously preceded major market reversals.
Multi-Year Structure Breaks into Accumulation Band
The weekly ETH/BTC time frame outlines structural movements from 2017 to 2027, showing major cycles of breakout and retracement. Ethereum peaked near 0.155 BTC in early 2018, triggering a steep multi-year correction. Market analyst Crypto Patel tracked this shift across macro phases.
Source: Crypto Patel
From the 2020 bottom near 0.017 BTC, ETH rebounded sharply and reached 0.088 BTC in late 2021. The rally failed at resistance, forming a macro double-top before entering a sustained decline.
Patel charted a breakdown in 2022 as the price lost trendline support from the 2020–2021 uptrend. ETH/BTC then followed lower highs and lower lows into 2024. The ratio returned to a demand zone between 0.0171 and 0.0220 BTC, a level active since 2019. Price compressed within this zone, with reduced volatility and repeated reactions at support.
Patel projected a recovery toward 0.058 BTC, citing this zone as a previous structural rejection point. He identified 0.036 BTC and 0.045 BTC as intermediate resistances to reclaim. Long-tail rejections at support signaled strong buyer presence across the lower band. Weekly closes respected these levels, suggesting the structure remains intact.
Based on EMA alignment, he gauged momentum strength building for a potential reversal. ETH/BTC holds above the 0.0171 BTC base, mirroring prior cycle lows. With volatility returning, Patel examined key support structures holding the current range.
Bearish Analyst Crypto Patel Charts 1 BTC = 53 ETH Breakdown
Bearish analyst Crypto Patel released another time frame showing ETH/BTC’s breakdown over days. His analysis captured persistent weakness and capital rotation favoring Bitcoin. The pair topped at 0.095 BTC on December 9, 2021, equating to 1 BTC = 11.40 ETH. From that point, the price declined through successive lower highs and lower lows.
Volume showed over 77 million ETH traded during the full downtrend. Each rally failed near 0.065 BTC, 0.049 BTC, and 0.035 BTC. ETH/BTC dropped from 0.042 BTC to 0.0187 BTC by April 2025. That price reflects 1 BTC = 53.40 ETH.
Tracking Ichimoku cloud behavior, Patel explained that the trend bias remained bearish. Price now tests a 2020 support zone. With stochastics diverging from price, he raised reversal flags pending a close above 0.0215 BTC.
