#notiasEThereum Ethereum approaches the key price level in Bitcoin that last time triggered a 450% gain

The current price setup of ETH against Bitcoin closely resembles 2019, with an oversold RSI and prolonged weakness below key moving averages after a multi-year decline. The Ether token

ETH

1606 €

of Ethereum is nearing a critical price zone against Bitcoin

BTC

83,672 €

, which historically marked the beginning of a massive rebound.

The price fractal of ETH since 2019 hints at a bottom

The ETH/BTC pair, currently trading near 0.019 BTC, is approaching 0.016 BTC, the exact level it reached in September 2019 before surging nearly 450% in the following year.

Weekly performance chart of the ETH/BTC pair. Source: TradingView

The current setup of the ETH/BTC pair resembles 2019, with both periods marked by the relative strength index (RSI) being oversold, long stretches below key moving averages, and multi-year declines.