Bitcoin and Ethereum are displayed renewed momentum after recovery and up more than 7% last week. As bearish trends slowly reverse, a crypto analyst shared a detailed analysis of the ETH/BTC chartpredicting the next moves of the trading pair. The analysis highlights key upside targets and identifies a specific selling zone, signaling when traders can consider taking profits.
Ethereum Approaches Key Selling Zone Against Bitcoin
Crypto market technician John Carter illustrated a bullish setup for the ETH/BTC pair in one of his latest chart analyzes on The pattern indicates a potential breakout, highlighting a clearly defined resistance zone where selling pressure should see the light of day.
Carter notably declared that Ethereum is currently approaching the long-term upper limit Widening corner on the weekly chart. This structure has guided Ethereum’s performance relative to BTC for several years, with prices rising between increasing trendlines.
Recently, ETH/BTC rebounded from the lower support zone of the Broadening Wedge, confirming that buyers are defending this level. The bounce from support was sharp and well defined, and after touching the lower boundary of the wedge, the pair launched a solid stage of recovery. This upward move pushed the price back into the upper half of the wedge, putting ETH/BTC on a direct path toward resistance.
According to Carter, ETH/BTC is currently completing its final phase of consolidation within the coin. As a result, breakout signals emerge as prices tighten near resistance and the trading pair maintains higher lows. If ETH/BTC confirms a breakout above the upper boundary of the wedge, Carter predicts it will climb to an initial target of $0.041, aligning with a previous consolidation zone.
Beyond this, the price could increase by $0.051 and $0.060. The final upside target has been set at $0.081, which straddles the broader resistance area on the chart. The analyst notes this resistance as a sales areaindicating when traders can start making profits.
Analyst Outlines Critical Support Levels for ETH/BTC
In his analysis, Carter also identified several support zones that could serve as key layers of defense if Ethereum faces setback against Bitcoin. The first major support area lies near the upper boundary of the Broadening Wedge pattern, around $0.031. Below, the analyst identified another support level at $0.026.
If the price falls below $0.026, the next notable support is around $0.022, which represents a decline of around 35% from the current levels above $0.034. In the event of an even deeper correction, Carter predicts that ETH/BTC could fall to $0.0185, a level marked on the chart as the “support zone” of the Broadening Wedge. Any move below this support would likely push ETH/BTC towards the lower boundary of the wedge, which extends to $0.010.
Featured image created with Dall.E, chart from Tradingview.com
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