Ether (ETH) is showing signs of a 170% gain in less than two months as it echoes its performance from the 2021 bull cycle against Bitcoin (BTC).

Key Insights

• Ether might reach previously seen highs beyond 0.09 in Bitcoin terms.
• The largest altcoin is continuing its bullish trend, targeting $3,700.
• Bitcoin’s price could hit $100,000 imminently based on current analysis.

Trader Remarks on ETH Surge: “You know what’s coming”

New insights shared by trader Mags on X indicate that the ETH price movements echo those of the 2021 bull run. Ether has spent considerable time declining in BTC valuation but has recently turned the tide toward a bullish outlook.

Mags emphasizes that ETH/BTC reached its lowest in April, aligning with the lows that marked the previous bullish rally. The price action has formed a familiar pattern, suggesting potential optimism for ETH holders.

“You know what’s coming.”

Translation: The market is set for significant movements.

ETH/BTC Chart

A 170% increase from current prices could elevate 1 ETH to approximately 0.092 BTC or $8,500.

This week, the crypto sector has noted a significant turn for Ether against Bitcoin, as digital asset expert Joe Carlasare remarked on ETH/BTC’s breakout from a significant downtrend lasting nearly half a year.

ETHBTC breaking out of a three-month downtrend pic.twitter.com/OVkTxPdt6A — Joe Carlasare (@JoeCarlasare)

Translation: A positive indication for Ethereum’s market position.

Michaël van de Poppe, a crypto trader and analyst, expressed a desire to see ETH maintain its recent resistance as support, hinting at a rally towards $3,700.

“If $91.5K holds as support, then I would assume we’ll be seeing a test at $100K in the coming week.”

Translation: There’s potential for substantial BTC growth.

ETH/USDT Chart

This article does not provide investment advice. Conduct your own research before making any financial decisions.