Ethereum Breaks Multi-Month Downtrend Against Bitcoin

Ethereum traders have been watching the ETH/BTC pair closely as it broke out of a multi-month downtrend. The pair surpassed its previous lower high, a significant technical signal that buyers are gaining control.

The breakout above the 0.03205 level has shifted the market structure, and traders are now focused on the retest zone between 0.0270 and 0.0260. This area is crucial for confirming the bullish reversal, as holding it would establish a higher low and strengthen the case for a sustained move higher.

However, losing the retest zone could send the pair back toward lower support, weakening the bullish thesis. Traders are watching several upside targets, including 0.040, 0.0500, and a range of 0.060 to 0.070, if ETH/BTC clears the retest and maintains its footing.