Compass Investments

– Ethereum (CRYPTO: ETH) has outperformed Bitcoin (CRYPTO: BTC) in terms of growth, rising more than 19% compared to Bitcoins 5% increase, with three bullish indicators driving the price movement.

Why is ETH currently the strongest among the major cryptocurrencies?

Trader Pentosh1 noted on X that ETH remains the strongest of the major digital currencies on the market and views the $1,700 level as a potential accumulation zone if the price pulls back to that level in the coming weeks. LINE_BREAK He identified short-term upside potential in the lower $2,000 range, though some volatility is expected ahead of the midterm elections.

The ETH/BTC ratio rose to 0.030a three-month high.

Tom Lee, Chairman of the Board of Bitmine Immersion Technologies Inc (NASDAQ:BMNR), directly referenced this indicator when the company increased its ETH reserves last week.

We see the rise in the ETH/BTC ratio, despite the decreasing likelihood of the Clarity Act being passed in 2026, as a sign of strengthening cryptocurrency prices, Lee said.

The first signal mentioned is the ETH/BTC pair reaching a three-month high, which indicates that Ethereum is performing relatively better regardless of the overall market trend.

The second signal is that the withdrawal queue for Ethereum validators has shrunk to zero after peaking at 2.6 million ETH in September. LINE_BREAK Analyst Merlijn The Trader wrote on X that the reduction of the queue to a level representing a 47% drop means that everyone who wanted to exit has already left the system.

At the same time, approximately 2.5 million ETH are currently awaiting entry into staking with a waiting period of about 43 days, which leads to a freeze in supply rather than its release.

The third signal is that inflows into ETFs remain consistently positive. According to data from SoSoValue, Ethereum ETFs have recorded three consecutive weeks of net purchases totaling approximately $294 million:

The price of ETH is holding at $1,908, within the Fibonacci range of 0.382 to 0.5 between $1,837 and $1,939.

The Parabolic SAR at $1,852 is positioned slightly below the price, and a daily close below this level would immediately confirm a downtrend.

The 20-day EMA at $1,860 and the 50-day EMA at $1,840 converge slightly above, forming short-term resistance.

Holding the $1,837 level is critical for the recovery scenario to remain intact. A break below this level would quickly open the way to $1,711, with the next support level at $1,506.,detected_source_language:RU