The ETH/BTC chart has formed a bullish symmetrical triangle pattern that usually leads to a bullish breakout. The ratio has been consolidating within the triangle since early May and is now tightening near the end. If the contraction leads to a bullish breakout, it could trigger a 14% rally up to 0.028.
The ETH/BTC ratio shows bullish signals after reaching the bullish market support level of 2021. If it bounces above this support, it could trigger a doubling of the price of Ethereum, exceeding $4,000.
