The post Ethereum Price Eyes Reversal as ETH/BTC Hits Key Support appeared on BitcoinEthereumNews.com.

Ethereum price is under focus in crypto space and particularly in relation to Bitcoin as it gets closer to a historically strong support level on ETH/BTC pair. After a descending triangle trend from mid 2021 through early 2025, the ETH/BTC pair has now reached a level where it showed a buying range in late 2020. Such a technical development combined with increased open interest in the futures is fueling the debate on trend reversal. Ethereum Price Eyes Recovery: Key Support Level Could Spark Reversal According to a recent post on X, analyst AndrewCryptoHQ noted that ETH/BTC is now trading at a crucial technical level. This level previously acted as a launchpad for gains during Q4 2020. Since its peak in mid-2021, the pair has remained in a downtrend, posting consistent lower highs and lower lows. As of late March 2025, ETH/BTC is resting near a multi-year support zone. Market participants are watching closely to see whether this zone can hold and initiate an altcoin rebound. If supported, it could mark a key turning point in Ethereum price performance compared to Bitcoin. Source: X However, downside risks remain. A decline in Bitcoin could put pressure on Ethereum price action. ETH has shown sensitivity to Bitcoin’s market direction in previous cycles. Without a confirmed breakout or higher low formation, traders remain cautious about calling a full reversal. ETH Futures Open Interest Hits Record as Caution Lingers On March 21, Ether futures open interest reached a record high of 10.23 million ETH, according to data from CoinGlass. This figure represents a 15% increase over two weeks, signaling growing participation in derivative markets. Despite the rise in open interest, the futures premium dropped below 4%, down from 5% two weeks prior. This lower premium suggests subdued bullish sentiment, as traders are not aggressively pursuing…

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Filed under: News - @ March 22, 2025 12:22 pm