Ethereum has recently displayed a golden cross against Bitcoin, prompting interest among traders. This technical pattern, where the 50-hour moving average surpasses the 200-hour moving average, indicates a potential resurgence in momentum for Ethereum.
Following a decline that began in mid-April, Ethereum has shown signs of recovery since hitting a low of 0.025 on June 6. The recent uptrend has been aided by increased ETF inflows and the uptick in on-chain activity, particularly through Robinhood's new Layer 2 chain, which utilizes ETH as its native gas token. This has led Ethereum to outperform Bitcoin in recent weeks.
Data from the hourly ETH/BTC chart illustrates the development of the golden cross, with Ethereum bouncing back from its June lows. After months of trading below the daily moving average, Ethereum managed to break through the key resistance level of 0.027, aligning with the daily MA 50.
Galaxy's Head of Research, Alex Thorn, has emphasized Ethereum's recent price movements against Bitcoin, raising questions about whether momentum is returning. Ethereum experienced a downward trend throughout 2026, marked by a death cross on the daily chart earlier this year, which may have gone unnoticed amidst early-year optimism in the crypto market.
Now, after several months of underperformance, traders are closely monitoring the ETH/BTC chart for signs of a price bottom. A rising ETH/BTC ratio typically correlates with the outperformance of many altcoins, making this a pivotal moment for Ethereum and its influence on the broader cryptocurrency market.
This article is for informational purposes only and should not be considered financial advice.
