Ethereum is gaining against Bitcoin and RSI may confirm a bullish shift on the monthly chart soon.
The ETH/BTC pair is rebounding off 0.025 while wedge structure shows room for upward breakout.
If BTC hits $120K and ETH/BTC reaches 0.06267 then ETH could climb fast toward $7,400 levels.
Ethereum is gaining momentum against Bitcoin as the ETH/BTC pair rises above 0.02547, gaining 5.46% on the monthly chart. According to analysts, the Relative Strength Index (RSI) is close to crossing the yellow EMA line. If this occurs, it could signal a broader altcoin rally and potentially mark the start of a new cycle.
Source: X RSI on Monthly Chart Sparks Altseason Speculation
The RSI, plotted on the monthly time frame, is nearing a crossover with the EMA line—a commonly tracked signal by market analysts. This simple setup, as shown on the TradingView chart shared on June 12, is often followed for trend changes. A successful RSI crossover could signal strength in Ethereum’s relative performance against Bitcoin.
Ethereum’s RSI level is currently climbing from the oversold zone, showing upward curvature. If the RSI crosses the monthly EMA, the pair could begin forming a bullish structure. The last time such crossover occurred, altcoins experienced sharp upward moves.
Traders use this RSI setup to determine momentum shifts. The ETH/BTC ratio is a leading indicator in altseason narratives. The technical view suggests that Ethereum might gain dominance if the trend continues through the monthly close.
ETH/BTC Rebounds as Volume Profile Builds Support
On the chart, Ethereum has rebounded from the lower trendline near the 0.020 level and now trades at 0.02548. The volume profile shows heavy accumulation between 0.019 and 0.025. This zone provides a strong foundation if momentum continues building.
The chart also includes a falling wedge structure, which is typically a bullish reversal pattern. ETH/BTC recently bounced off the lower wedge support and now moves toward the upper resistance near 0.06267. A breakout from this wedge could lead to a major shift in price trend.
A volume gap exists between 0.034 and 0.055, suggesting a swift move may follow once ETH clears this area. That range is thin on historical resistance, opening the possibility for a rapid rise if momentum holds. This area may become the next watch zone for breakout confirmation.
Could Ethereum Hit $7,400 If BTC Reaches $120K?
A key marker on the chart estimates Ethereum at $7,400 if Bitcoin reaches $120,000. This price projection is derived using the ETH/BTC ratio of 0.06267. Such ratios help traders estimate Ethereum’s dollar value during Bitcoin surges.
At present, the ETH/BTC ratio is well below that level. However, the monthly chart setup and RSI momentum suggest a potential reversal in ETH’s favor. A strong move in this pair could realign market dynamics.
If Bitcoin breaks above $100K and ETH/BTC moves to 0.06267, the $7,400 ETH/USD value becomes a real possibility. The trend depends on RSI signals, wedge breakout, and support sustainability. Will Ethereum strengthen enough to reclaim dominance in the next cycle?
