- Ethereum’s ETH/BTC ratio nears a multi-year bottom with bullish signals emerging from broken resistance and historical accumulation zones.
- ETH/USDT trades within a descending triangle as price consolidates and volume drops, hinting at a decisive breakout move soon.
- Repeated bullish formations and rising momentum suggest Ethereum is approaching a critical turning point in both BTC and USDT pairs.
Ethereum’s price action has reached a pivotal moment. The ETH/BTC ratio has hit an extremely low level, last seen in 2020. Simultaneously, Ethereum is consolidating within a triangle against the USDT, suggesting an imminent breakout.
ETH/BTC Ratio Signals Potential Rebound
The ETH/BTC ratio stands at 0.02174, a slight decline of 0.91%. Historically, Ethereum has been extremely volatile compared to Bitcoin, with the peaks in early 2018 hitting 0.13. After years of lagging behind, the ratio is starting to look like it is forming a long-term bottom. A descending trendline, which had limited price action since 2018, was finally broken in 2024. Since then, ETH has gained momentum, climbing from lows near 0.02 to over 0.08 earlier this year.
Several indicators suggest a reversal. Three key bottom formations, marked by yellow flames on the chart, indicate recurring accumulation zones. Teal circles highlight critical price action areas, emphasizing consolidation periods and breakout points. Additionally, green candles dominating recent weeks confirm growing buying pressure.
ETH/USDT Triangle Pattern Nears Decision Point
Meanwhile, Ethereum’s price against Tether (ETH/USDT) is consolidating within a descending triangle on the 4-hour chart. ETH is currently trading at $1,787.93, down 0.54% for the day. The triangle pattern, forming between April 1 and April 5, signals an impending breakout.
A red descending resistance line has rejected multiple upward attempts since late March. A crucial green support line sits at $1,550, though it has yet to be tested. Trading volume has been decreasing, suggesting a major move is on the horizon. The breakout could send ETH towards $1,900 if bullish, or down to $1,700 if bearish.
Ethereum’s price structure suggests a “make it or break it” moment. If ETH sustains its current trajectory, a bullish breakout could be imminent. However, failure to hold key support levels might lead to further downside.
