Ethereum News Today: Ethereum Surges 16.4% as It Tests $3,758 Resistance and Outpaces Bitcoin for Second Consecutive Quarter

Ethereum has outpaced Bitcoin for the second consecutive quarter, registering a 16.4% surge as it tests a critical resistance level near $3,758. The cryptocurrency has found robust support around $3,650, stabilizing its price action ahead of a potential breakout. Despite this momentum, the ETH/BTC pair remains stagnant at 0.03094, indicating no relative outperformance against Bitcoin in terms of its peg to the leading digital asset [1]. The broader market environment reflects mixed signals: Ethereum’s market capitalization fell 0.6% to $441.85 billion, while 24-hour trading volume declined by 20.34% to $37.15 billion, suggesting a temporary moderation in buying pressure [1].

The current price trajectory mirrors a historical pattern from 2021, when Ethereum’s outperformance coincided with a fivefold increase in value. Today, the asset trades 30% below its all-time high, yet its proximity to $5,000—considered a major psychological barrier—has reignited bullish sentiment among investors. Technical analysis highlights a consolidation phase between $3,650 and $3,758, with traders closely watching whether buyers can sustain pressure above the $3,700 midpoint to confirm a breakout [1].

While Ethereum’s USD price gains are evident, its performance relative to Bitcoin remains flat. The ETH/BTC ratio’s immobility underscores that Ethereum’s rally has not yet translated into dominance over Bitcoin in the crypto ecosystem. Analysts note this as a key indicator to monitor, as a shift in the ETH/BTC dynamic could signal broader market repositioning [1].

The market’s liquidity profile, though weakened by declining volume, retains a 24-hour volume-to-market cap ratio of 8.28%, suggesting high liquidity despite the slowdown. This metric implies that while short-term activity has waned, the asset remains well-positioned to absorb renewed demand without significant slippage [1].

Ethereum’s resurgence follows a pattern last seen in 2021, when sustained outperformance led to a multi-year rally. Current conditions suggest a similar trajectory may be unfolding, though market participants are advised to remain cautious. The interplay between rising USD prices and flat ETH/BTC ratios indicates that while Ethereum’s intrinsic value is gaining traction, its relative strength within the crypto space has yet to fully materialize [1].

Source: [1] [Ethereum Surges 16% as It Tests $3,758 Resistance and Outpaces Bitcoin for Second Quarter] [https://cryptonewsland.com/ethereum-surges-16-as-it-tests-3758-resistance-and-outpaces-bitcoin-for-second-quarter/]