- ETH/BTC breakout shows strength, not weakness, as RSI resets near 75.10 without confirming a reversal.
- Major altcoins including SOL, BNB, SUI, and KAS are holding near resistance with minimal rejections.
- Ethereum remains range-bound above $3,500, with $3,400 identified as a potential strategic support for accumulation
A significant change in market structure may be occurring as implied by recent price movement on the Ethereum to Bitcoin (ETH/ BTC) chart and potentially being overlooked by the broader community. Following a steep exit out of a years-long contraction channel, ETH/BTC started one of its most persistent growth phases in several years. This breakout is strength and not a retracement considering there is caution among retail participants.
Importantly, this trend has implications for the altcoin market. Several major altcoins, including SOL, BNB, SUI, ONDO, KAS, and RENDER, have already approached or tested high-value resistance zones. While these levels previously capped price action, they are now showing signs of weakening, with no strong rejections recorded so far. As altcoins hover near their respective resistance levels, close monitoring of ETH/BTC remains essential to assess the next phase of market direction.
ETH/BTC Holds Gains as RSI Cools Off Without Confirming a Reversal
After Ethereum’s rise against Bitcoin, ETH/BTC entered a brief consolidation near 0.03. This range followed months of sideways trading and a clear breakout from the April lows. The (RSI) climbed rapidly to overbought conditions during the rally, topping at 75.10. Traders interpreted this as exhaustion, but the price has not confirmed a reversal. Instead, it has maintained higher support levels above previous consolidation. Notably, this price behavior typically leads to sideways action, giving RSI room to reset.
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The market has not provided any signs of structural breakdown. Historical data shows similar price action before further continuation, not regression. RSI values also show a possible bullish reset without breaching key thresholds. As momentum cools, traders may be mistaking volatility compression for weakness.
Major Altcoins Hold Key Levels as Resistance Zones Face Minimal Rejection
The altcoin market has touched several milestone prices in recent weeks. $SOL hit $200, Currently trading at $183.19 with a 8.1% decline as the support holds near $180.95. BNB on the other side approached its all-time high currently trading at $757.42.
SUI traded around $4 as it holds $3.65 currently . At the same time, $RENDER and $KAS pushed above $4 and $0.10 respectively. These price levels now act as resistance. However, they are not proving to be impenetrable. So far, no significant rejection has occurred from these zones, which suggests the correction may be technical rather than fundamental.
ETH and Altcoins Range-Bound as $3,400 Emerges Key Level
Ethereum and several altcoins have undergone a brief correction, sweeping out significant liquidity across the market. Despite the recent dip, price action appears to remain within a consolidation range rather than initiating a new upward leg.
Ethereum currently trades above $3,500, but if it drops below $3,400, analysts may view it as a strategic buy opportunity. The market isn’t showing breakout momentum but instead stabilizing within its old formation. So long as the consolidation holds, price targets near recent highs may remain of interest, although short-term volatility should persist through the remainder of the altcoin universe during this time.
