Ethereum is firmly in breakout mode. The ETH/BTC ratio, a closely watched measure of altcoin strength, has surged close to a year-to-date high.
ETH has now gained over 25% in the past week, fueled by institutional flows into ETH ETFs and tech investor Peter Thiel reportedly taking a major stake in BitMine.
RSI is at 84.82, showing extremely strong momentum, though short-term consolidation near the $3,800–$4,000 resistance zone is possible. This is a zone that capped previous rallies in 2024.
Bitcoin, in contrast, is holding flat near $118,000, down slightly from its recent highs above $120,000. Small-bodied candles and minor intraday sell-offs have formed a tight consolidation block, indicating profit-taking and indecision.
The question now is whether Ethereum will follow BTC’s recent behaviour and stall near local highs, or whether the breakout will carry it decisively through $4,000.
ETH has now gained over 25% in the past week, fueled by institutional flows into ETH ETFs and tech investor Peter Thiel reportedly taking a major stake in BitMine.
RSI is at 84.82, showing extremely strong momentum, though short-term consolidation near the $3,800–$4,000 resistance zone is possible. This is a zone that capped previous rallies in 2024.
Bitcoin, in contrast, is holding flat near $118,000, down slightly from its recent highs above $120,000. Small-bodied candles and minor intraday sell-offs have formed a tight consolidation block, indicating profit-taking and indecision.
The question now is whether Ethereum will follow BTC’s recent behaviour and stall near local highs, or whether the breakout will carry it decisively through $4,000.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.