Outside Source
With ETH/BTC up 17.8% this week and spot Ethereum ETF inflows exceeding $90 million, analysts suggest Ethereum’s path to its all-time high appears increasingly achievable.
Ethereum (ETH) outperformed the broader crypto market, rising 11.65% to a high of $3,688, as capital rotated from Bitcoin (BTC).
The surge comes as Bitcoin reclaimed the critical $95,000 level on Nov. 27, following in-line PCE price index results. However, Ethereum’s relative strength continues to build. The ETH/BTC ratio currently stands at 0.03760, up 17.8% from the prior week, analysts at QCP Capital noted.
“With BTC dominance breaking down from its high at 61.50%, ETHBTC has held up nicely and is currently at 0.03760, up 17.8% from last week. This brings 0.0400 into focus as the next level to watch.”
QCP Capital
Ethereum targets all-time high
Despite Ethereum lagging behind Bitcoin and Solana (SOL) in the ongoing rally, QCP Capital suggests the recent ETH gains could lead to a retest of its all-time high of $4,868, offering a potential upside of 35.4% from current levels.
As crypto.news reported earlier, Ethereum’s daily charts indicate bullish patterns, including the potential for a golden cross as the 200-day and 50-day Exponential Moving Averages approach a bullish crossover.
Ethereum’s decentralized finance ecosystem has also seen growth. The total value locked in Ethereum-based protocols rose by about $10 billion, following bullish momentum spurred by Donald Trump’s U.S. presidential election win, according to data from DeFiLlama.
This article first appeared at crypto.news
