Ethereum passed the the best part of the last few months lose ground against Bitcoin, and this underperformance could we are now approaching a turning point, at least according to a new technical perspective shared by crypto analyst CrediBULL Crypto. Technical analysis shows that the ETH/BTC pair is no longer collapsing and is now quietly settling at a level that has historically led to an exhaustion of sales in the pair.
ETH/BTC holds range lows as selling pressure fades
The ETH/BTC 12-hour chart tells a story that has been running since July 2025 and is now nearing completion. The ETH/BTC chart shows a pair that spent the last few months falling before finally reaching a support zone. As shown in the chart below, the ETH/BTC ratio has seen a sustained decline over the past few years since a peak near 0.0420 in mid-2025, which the analyst characterizes as wave 5 of a five-wave completed impulse.
The ratio cycled through a series of ups and downs throughout the second half of 2025 and January 2026. However, it was compressed between February and March into what looks like a macro support zone between around 0.02143 and 0.02626.
This support was noted by CrediBULL Crypto as important in this context, with the analyst confidently pointing out that the ETH/BTC pair this is the bottom here and is in a final phase preceding a real escape of the current range.
Ethereum/Bitcoin chart. Source: @CredibleCrypto on X
Recovering reach could lead to 20% outperformance
The Elliott Wave labeling on the chart frames the current structure of the ETH/BTC pair as a (w)-(x)-(y) correction after the previous five-wave impulse that peaked in mid-2025. The wave (w) has played out in its entirety and the projection is a wave (x) movement which should see the price of Ethereum increase by 20% compared to the price of Bitcoin.
The most important step in this planned move is to reclaim the previous lows around 0.0308-0.031, which are now turned into resistance. The inability to regain the level would probably be delay this scenariobut the current price development has been characterized by repeated attempts to push higher.
Moving to the ETH/USD 30-minute chart, the analyst overlays a Wyckoff accumulation pattern onto the current price action. The Ethereum/USD chart complements the ETH/BTC outlook, showing prices trading in a range just above $2,000. This is above a notable support level around the $1,900-$1,950 range, where multiple reactions have occurred.
Ethereum Price Chart. Source: @CredibleCrypto
There is also a pink resistance zone above, which lies between around $2,120 and $2,200. CrediBULL Crypto’s projection, shown by the green arrows, envisions a brief retest of support below $1,900 before an upward resolution that pushes ETH price above the pink resistance zone at $2,400 and possibly higher.
Featured image created with Dall.E, chart from Tradingview.com
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