Ethereum News Today: Ethereum Surpasses Bitcoin on Weekly Bollinger Band Breakout Since 2021

Ethereum's price relative to Bitcoin has pushed above the upper Bollinger Band on a weekly basis for the first time since 2021, indicating a potential shift in momentum favoring the altcoin [1]. The ETH/BTC ratio, a widely used indicator for altcoin strength relative to Bitcoin, has broken out of a prolonged consolidation pattern, capturing attention from traders and analysts as a sign of renewed Ethereum buying pressure.

The breakout coincides with a developing bullish setup in the EMA (Exponential Moving Average) crossover. The 8/34 EMA cross is nearing its first confirmed bullish signal since July 2024 [1]. This technical configuration is often interpreted as a sign of strengthening short-term momentum and may indicate a structural shift in how capital is being allocated between Bitcoin and Ethereum. The 8 EMA is currently sloping upward, and the price remains above the 21 EMA, reinforcing the potential for a bullish continuation.

The ETH/BTC ratio has rallied from a low near 0.018 to the 0.033 level, maintaining several weekly closes above the upper Bollinger Band. This suggests persistent buying interest in Ethereum, reversing a trend of underperformance seen since 2023 [1]. Analysts have noted that this marks the first sustained weekly push above the upper BB since 2021, indicating a reversal in the relative strength dynamic between the two leading cryptocurrencies.

Traders are now turning their attention to the resistance levels between 0.034 and 0.036. This zone previously acted as key support during 2023 before the breakdown. A decisive breakout could open the path to potential targets at 0.04 and 0.047 on the ETH/BTC ratio [1]. Such a move would reinforce the likelihood of further capital inflow into Ethereum, especially if the EMA cross confirms the bullish momentum.

Given the recent volatility in the broader cryptocurrency market, the next few weeks will be critical in determining whether this is the beginning of a sustained uptrend or a temporary anomaly. Technical confirmation, including volume trends and the continuation of the EMA crossover, will be essential for traders to assess the strength of the move [1].

Source: [1] Trading Journal - Investing Forum (https://investsocial.com/forum/trading-strategies/trading-journal)