Ethereum Breaks Out of Long-Running Downtrend Against Bitcoin

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

According to CoinPedia, the ETH/BTC pair has ended its relative weakness against Bitcoin, a trend that had been in place since 2017. While this breakout does not guarantee a larger rally, it has raised the possibility that Ethereum could start behaving more like a leading blue-chip asset within the current crypto cycle.

However, the chart still has a major hurdle at $0.040 ETH/BTC, and what happens there could decide whether this breakout has real follow-through or simply fades into another stretch of consolidation.