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With ETH/BTC up 17.8% this week and Ethereum ETF inflows surpassing $90 million, analysts point out that Ethereum’s path to an all-time high looks increasingly achievable.
Ethereum (Ethereum) outperformed the broader cryptocurrency market, rising 11.65% to a high of $3,688, as capital shifted out of Bitcoin (Bitcoin).
The rise comes as Bitcoin reclaimed the critical $95,000 level on November 27, following the results of the included Personal Consumption Expenditures price index. However, Ethereum’s relative strength continues to increase. Analysts at QCP Capital noted that the ETH/BTC ratio currently stands at 0.03760, up 17.8% from the previous week.
“With BTC dominance collapsing from its high of 61.50%, ETHBTC has held up well and is currently at 0.03760, up 17.8% from last week. This puts the 0.0400 area into focus as the next level to watch.”
QCB Capital
Ethereum is targeting an all-time high
Although Ethereum lags behind Bitcoin and Solana (Sol) On the continued rise, QCP Capital notes that ETH’s recent gains could lead to a retest of its all-time high at $4,868, offering a potential upside of 35.4% from current levels.
Such as crypto.news I mentioned Earlier, Ethereum’s daily charts are indicating bullish patterns, including a possible golden cross as the 200-day and 50-day EMAs approach a bullish crossover.
Ethereum’s decentralized finance ecosystem has also seen growth. The total value of Ethereum-based protocols has risen by about $10 billion, following the bullish momentum caused by Donald Trump’s victory in the US presidential election, according to… Data From Devilama.
