Ethereum (ETH) is making waves with its most significant weekly gains since May 2024, hitting a quarterly high of $2,956. This surge has sparked a 6% rise in the ETH/BTC chart, capturing market attention for a potential trend reversal. The excitement follows ETH's breakout above a 161-day bearish trendline, signaling a momentum shift for bullish investors.

Crypto analysts highlight the importance of ETH/BTC closing above the 50-day simple moving average to confirm a trend bottom. Meanwhile, key resistance levels are being tested across ETH, ETHBTC, and TOTAL3 charts, hinting at a possible altcoin rally if these barriers are breached.