Ethereum is showing two different but related signals relative to Bitcoin and the US dollar. meanwhile $ETH/$BTC remains trapped below a critical resistance level, $ETH/USD is testing a breakout retest that could determine whether the next rally begins.
$ETH/$BTC Key resistance remains at 0.03 to maintain narrow range
Ethereum has largely kept pace with Bitcoin over the past month. $ETH/$BTC According to chart data shared by DaanCryptoTrades on X, the ratio remains in a narrow band around 0.029. Here is the chart of Binance for the day: $ETH/$BTC While it traded around 0.02929 on March 6, the price trend remained compressed within a small sideways box from late February to early March.
$ETH/$BTC daily chart. sauce: Trading on DaanCryptoX
This range is important because it shows that Ethereum is no longer losing ground to Bitcoin for now. However, it also $ETH Didn’t start leading again. Rather, both assets have moved in line with each other, with the ratio remaining stable after months of widespread weakness. The chart highlights 0.03005 as the first near resistance, but 0.03259 and 0.04109 are still high levels to watch to see if momentum builds.
DaanCryptoTrades said horizontal levels remain important and the charts support that view. $ETH/$BTC We have reacted to these zones several times over the past year, both on the ups and on the downs. Most recently, the pair fell into its current range and then held there without a definitive breakout in either direction. This pattern suggests that traders are waiting for clearer direction before re-pricing Ethereum against Bitcoin.
For now, 0.03 remains the first line that Ethereum needs to regain if it wants to show new relative strength. A break above this area could open up room for the next resistance zone around 0.03259. On the other hand, if this ratio falls below the current range, Bitcoin will again outperform Ethereum in the short term.
the result, $ETH/$BTC The chart does not yet show Ethereum leadership. Instead, it shows stability, but only within a narrow range that still requires a breakout.
Ethereum, $2,340 emerges as major wave target, retests trendline
According to chart analysis shared by Man of Bitcoin on X, Ethereum is testing an important trendline after previously breaking above it. $ETHThe /USD Binance chart shows that the price has returned to the previous resistance line and is now acting as potential support.
Ethereum trendline retest analysis. sauce: X Bitcoin Man
This type of retesting often occurs after a breakout. In this case, the chart shows Ethereum breaking above the downtrend line where price movements were limited during the previous consolidation phase. After this move, the price has returned and is now approaching the same line from above.
If this level is maintained, the structure may support higher continued migration. The chart shows an Elliott wave setup with the next up leg forming the third wave. Based on that structure, the predicted target for the third wave appears near the $2,340 zone.
This analysis also highlights additional resistance levels above the trendline area. The Fibonacci extension shows potential zones around $2,282, $2,340, and $2,439. These levels are consistent with the expected upward path marked on the chart and suggest areas where price may encounter selling pressure if the trend continues.
However, the setup depends on the holding of the trendline as support. If the price is above that structure, the chart maintains the possibility of a continuation pattern. Therefore, the analysis focuses on whether Ethereum can defend its levels in the retest phase.
