Ethereum (ETH) Stages Strong Comeback Against Bitcoin (BTC)

2d ago•

bullish:

bearish:

CoinEdition chart shows the ETH/BTC pair breaking its long-term downtrend as ETH hits a new all-time high.

Ethereum has broken its all-time high, reaching $4,950 amid a strong reversal from its long-term downtrend.
Whales and institutions are heavily accumulating ETH, with some using up to 25x leverage.
Despite a brief sell-off, analysts maintain a bullish outlook, saying Ethereum is not yet done.

Ethereum (ETH) has staged a strong comeback against Bitcoin (BTC) today. The key ETH/BTC chart, as highlighted in CoinEdition’s analysis, has broken a long-term downtrend after a massive 48% rally.

Notably, Ethereum had broken its all-time high, surging to nearly $5,000 on Sunday. ETH climbed to $4,950, surpassing its previous record of $4,867 set on November 8, 2021. This marks an important milestone for ETH as it enters a price discovery phase, where the asset reaches new highs without any resistance.

Ethereum’s comeback rally closely follows Bitcoin’s fall in dominance to 57.91%, down from around 63% just a month ago. While Ethereum hit a new peak Sunday evening, Bitcoin remained largely stable around $115,500—an 8% drop from its all-time high of $124,500.