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.
