$BTC

Ethereum Price Outlook as ETH/BTC Tests Support

ETH price trades at $2,513 at press time, with the dip threatening to wipe out the gains that the altcoin recorded in May 2025. However, despite the ongoing dip, the market sentiment towards ETH remains high as institutional inflows shift from Bitcoin to Ethereum.

The dip has also caused the ETH/BTC ratio to fall to a critical support level of 0.017, which triggered an over 20x rally for Ethereum price during the 2021 bull market. The trend appears to be repeating again as the ratio forms an upward trend since its drop to this range.

For this ratio to confirm the upward trend and the start of a 2021-like bull market for Ethereum price, it first needs to overcome resistance at the 61.8% Fibonacci level of $0.0422. Bouncing from this level may then result in a 2x rally to 0.082, marking the highest level since September 2022. However, the upward trend portrayed in the ETH/BTC ratio is facing weakness, as the downward sloping ADX line shows.