Ethereum Shows Signs of Reversal Against Bitcoin
After hitting a record low of 0.015 BTC, Ethereum’s ETH/BTC pair has rebounded 10.42%, sparking speculation that the long downtrend may be ending. As of April 24, ETH was trading near 0.019 BTC, with technical indicators hinting at a potential reversal.
Key Takeaways:
✔ ETH/BTC up 10% from recent lows – Is this the start of a trend reversal?
✔ Bullish divergence spotted – RSI shows higher lows while price makes lower lows
✔ Descending triangle breakout – Failed breakdown suggests bear trap, potential upside ahead
✔ Next resistance at 0.021 BTC (50-day EMA) – A 15% move possible by May
Is the ETH/BTC Bear Market Ending?
Ethereum has underperformed Bitcoin by 88.7% since June 2017, but recent price action suggests a possible reversal.
1. Bullish RSI Divergence Signals Rebound
- The daily Relative Strength Index (RSI) is forming higher lows while ETH/BTC makes lower lows—a classic bullish divergence.
- The last time this happened (November 2024), ETH surged 24% against BTC.
- If history repeats, ETH could retest the 50-day EMA near 0.021 BTC—a 15% upside from current levels.
2. Descending Triangle Breakout Confirms Bullish Momentum
- ETH/BTC recently broke out of a descending triangle after a failed breakdown, trapping bears.
- The breakout was confirmed by rising volume, increasing the odds of further upside.
- The next target is 0.02051 BTC (7% higher), measured from the triangle’s height.
3. Critical Resistance at 200-period EMA (0.01935 BTC)
- A strong close above this level could trigger more buying pressure.
- The RSI is above 60 but not yet overbought, leaving room for more gains.
What’s Next for Ethereum vs Bitcoin?
While long-term trend reversal isn’t confirmed yet, short-term bullish signals suggest ETH could outperform BTC in the coming weeks.
Key Levels to Watch:
- Support: 0.015 BTC (recent low)
- Resistance: 0.01935 (200 EMA) → 0.02051 (triangle target) → 0.021 (50-day EMA)
If ETH/BTC holds above the 200 EMA, we could see a stronger recovery toward 0.021 BTC. However, a drop back below 0.018 BTC would invalidate the bullish case.
Final Verdict: Cautious Optimism for ETH Bulls
Ethereum is showing its first signs of strength against Bitcoin in years, but traders should wait for confirmation above key resistance levels before expecting a full trend reversal.
