As Cointelegraph reported, ETH/BTC fell below the rising trendline support since 2016, having previously rebounded 1,800% in 2017 and 300% in 2020-2021. In November 2024, ETH/BTC fell below the support level by about 15%, and the trading volume increased, indicating strong selling pressure and possible further declines.
ETH/BTC underperformed as the launch of a Bitcoin ETF in the United States and increased competition from Solana led to a shift in funds from Ethereum to Bitcoin.
Technical analysis shows that ETH/BTC has entered the breakout phase of an inverse cup-with-handle pattern and could drop to 0.017 BTC, a 50% drop from the current price. If it rebounds from the current support level, it could rise to 0.043 BTC.
