Ether Gains Ground Against Bitcoin, Renewing Bullish Sentiment
Ether (ETH) is showing uncommon resilience against bitcoin (BTC) on a day when broader crypto markets are under pressure—a dynamic rarely seen during risk-off sessions.
Bitcoin has declined more than 2% to around $97,200, yet ether is holding steady near $3,230, according to CoinDesk. This divergence has pushed the ETH/BTC ratio higher by over 2%, highlighting ETH’s clear relative strength.
Below are three charts offering insight into the current market structure:
ETH/BTC Ratio
The ETH/BTC pair on Binance continues to trade within a counter-trend downward channel, marking a cooling phase following the strong rally between May and August. The channel’s mild slope suggests consolidation rather than a shift into a deeper downtrend.
A breakout above the upper boundary would indicate renewed preference for ether and signal the potential for further upside in the ratio. Momentum indicators are also aligning, with the MACD histogram approaching a move into positive territory.
Ether (USD Price)
Ether’s dollar chart mirrors the ETH/BTC structure, moving within its own downward-sloping consolidation channel. Long lower wicks near the $3,000 level on recent daily candles indicate fading selling pressure and possible early signs of a bullish reversal.
However, a definitive breakout above the channel is needed before a broader bullish narrative can be confirmed.
XRP/BTC Ratio
Ether’s performance often sets the tone for major altcoins, and a decisive push higher could spill over into tokens like XRP. The XRP/BTC ratio has been compressing within a multi-year range, effectively storing energy for a significant move.
A strong, sustained rally in ether could act as the catalyst for XRP/BTC to finally break out, potentially unlocking notable upside for XRP.
