Ethereum Breaks Downtrend Against Bitcoin, $0.040 ETH/BTC Next

The Ethereum price has just broken its long-running downtrend against Bitcoin, a development that has significant implications for the cryptocurrency's price action.

This downtrend had been in place since 2017, making the current breakout a major event in the Ethereum-Bitcoin market.

While this development is bullish for Ethereum, the price still faces a major hurdle at $0.040 ETH/BTC, and the outcome of this test will be crucial in determining the direction of the price.

If Ethereum breaks above $0.040 and maintains its move, expectations for a larger price rally could build quickly, making this a potentially significant development in the Ethereum price action.