Ethereum Price Stuck at Trendline, but Ratio Sets Up Big Move

Ethereum's price has been stuck at $1,923.55, pressing against a descending trendline that's rejected it twice this month.

The ratio of Ethereum to Bitcoin ($ETH/$BTC) is quietly setting up for what could be the biggest move of the year, reaching its best 30-day run in months and closing in on a level ETH hasn't held since last year.

Analysts are watching as $ETH spot ETFs have seen five consecutive weeks of inflows, with $245 million pouring in during the week of August 3 to 7.

The Parabolic SAR at $1,937.13 remains bearish, but a daily close above this level could flip it bullish and confirm a trend change.