ETH Seen as Strongest Major, $1,700s Potentially an Accumulation Zone

ETH remains the strongest major in the market according to Trader Pentosh1 on X. He believes that if prices pull back to the $1,700s over the next few weeks, it could be an accumulation zone. The ETH/BTC ratio has climbed to its highest reading in three months at 0.030.

The rising ETH/BTC ratio is seen as a sign of crypto prices strengthening, despite the falling odds of passage of the Clarity Act in 2026. Three bullish signals behind the move include the ETH/BTC ratio hitting a three-month high, Ethereum's validator exit queue dropping to zero after peaking above 2.6 million ETH in September, and ETF inflows turning consistently positive.

Ethereum ETFs recorded three straight weeks of net buying totaling roughly $294 million according to SoSoValue data. The current price of ETH is sitting inside the 0.382 to 0.5 Fibonacci zone between $1,837 and $1,939. Trader Pentosh1 sees short-term upside in the low $2,000s.