Ethereum takes the hand as Bitcoin finds its local top

[Redator]

A month ago, one of our Crypto market analysis had mentioned the scenario of Ethereum retaking some of the relative strength it had heavily lost in the beginning of 2025, notably leaving some space for Solana to outperform the second largest cryptocurrency.

Now, since its War lows, the Ether has had a stellar run – Since its 2,174 lows on June 21st, the crypto rallied back close to 50%, leading to the ETH/BTC ratio looking poised for a decent breakout.

The ratio has just broken out to the upside of its Range which calls for an ETH Technical Analysis.

Read More: Bitcoin retracts, Altcoins shine

ETH/BTC Breaks out of its 3 month-long Consolidation

The Second to First Crypto ratio is essential to track the appetite for Altcoins, key to signs of depth in Digital Assets as Bitcoin had taken a significant advantage since it started rallying to its first $100,000 trip – The rally in BTC had started in October 2024 and started to put a top in the ratio.

Yesterday marked the breaching of the 2.64% top of range which had stuck the altcoins in lesser demand, particularly since the start of the Israel-Iran War had dampened appetite.

The Altcoin market is currently looking good and few potential measured moves targets point towards the ongoing move in the Ratio to stall between 2.90% to 3.1% in ETH/BTC – This would give Ether some considerable upside, particularly if Bitcoin consolidates at current levels.

Ethereum Technical Analysis

ETH Weekly Timeframe

Ethereum Weekly Chart, July 16, 2025 – Source: TradingView

Looking out to the Weekly timeframe serves to show how the 3 year action in the second biggest crypto has been rangebound overall.

But with the major rally in Bitcoin and the expansion of the democratization of what was a Niche-financial market, there is potential to retest at least December 2024 highs as long as the Crypto market maintains its bullish tone.

Looking at Fibonacci Extensions of the 2022 $1,000 lows to December 2024 highs, any All-time high breakout (still far from current levels) could stall between $4,915 to $5,250 (127.8% to 138.2% Fibs) and further rally towards $5,970 161.8% targets.

Many things may happen before these levels get hit, however in technical analysis, all scnearios must be explored.

ETH 8H Timeframe

Ethereum 8H Chart, July 16, 2025 – Source: TradingView

Looking closer marks the strength of the ongoing run with prices currently way overbought looking at the RSI – Overbought levels may only stall a rally when such a squeeze happens, as the run may just keep continuing for a while before stallling.

However, buyers will have to push through the $3,250 Resistance turned support to warrant further upside.

The way the buying candles look, it seems that there is still some potential in the buying towards the Measured Move target around $3,400 to $3,450 which would coincide with the ETH/BTC ratio targets emitted above.

Of course, anything can happen and things might go further or drop suddenly depending on sentiment – Markets are unpredictable and we are just pointing some high probability scenarios.

Ethereum 1H Chart

Ethereum 1H Chart, July 16, 2025 – Source: TradingView

The ongoing impulsive bull move is evolving within an upwards hourly channel.

Watch for the reactions as prices are approaching the top of this channel at overbought RSI levels – The short-term action stays bullish as long as the channel is maintained.

The Total Market Cap is moving upwards in today's session

Crypto Total Market Cap, July 16, 2025 – Source: TradingView

Cryptocurrency buying can also be expressed in an upwards channel looking at how the current action is going – Watch for any break above the $3.78 All-Time highs or what happens if buyers can't push through.

We are "only" $4B away from that record.


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