What to Expect from Ethereum Price as ETH/BTC Tests 2021 Bull Market Support

Ethereum (ETH) is down 5% in 24 hours amid a widespread crash across the broader cryptocurrency market. However, the ETH/BTC ratio has dropped to test the 2021 bull market support that catalyzed an over 4,000% rally. As this ratio rises, what does it mean for Ethereum price, and can the largest altcoin reclaim $4,000?

Ethereum Price Outlook as ETH/BTC Tests Support

ETH price trades at $2,513 at press time, with the dip threatening to wipe out the gains that the altcoin recorded in May 2025. However, despite the ongoing dip, the market sentiment towards ETH remains high as institutional inflows shift from Bitcoin to Ethereum.

The dip has also caused the ETH/BTC ratio to fall to a critical support level of 0.017, which triggered an over 20x rally for Ethereum price during the 2021 bull market. The trend appears to be repeating again as the ratio forms an upward trend since its drop to this range.

For this ratio to confirm the upward trend and the start of a 2021-like bull market for Ethereum price, it first needs to overcome resistance at the 61.8% Fibonacci level of $0.0422. Bouncing from this level may then result in a 2x rally to 0.082, marking the highest level since September 2022. However, the upward trend portrayed in the ETH/BTC ratio is facing weakness, as the downward sloping ADX line shows.

The last time that the ETH/BTC ratio bounced from this support, it catalyzed an over 4,000% rally in Ethereum. However, considering the growth in Ethereum’s market cap, traders may expect a 2x rally in ETH price if history rhymes, pushing it past $4,000.

Key Levels to Watch in Ethereum Price

Amid the surging ETH/BTC ratio, the daily price chart shows that the price of Ethereum is at a pivotal point as it defends a crucial support zone. The $2,400 to $2,550 range has been acting as a strong support level for Ethereum, and a breakout has always determined whether the price rallies or crashes.

If ETH bounces from this support, the first resistance it needs to break is the 200-day SMA level of $2,669. Breaking above this level will confirm a long-term bullish outlook and support a strong uptrend. This may then push ETH price to the resistance zone between $3,800 and $3,900 and kickstart a bull run past $4,000.

This bullish forecast aligns with a recent CoinGape analysis that observed the formation of a bull flag pattern on the Ethereum chart. A breakout from this pattern suggests that the Ethereum price could rally to $4,000.

Bottomline

Ethereum price may be on the verge of a rally after the ETH/BTC ratio bounced from a support level that catalyzed an over 4,000% gain for ETH in 2021. If Ethereum can cross above the 200-day SMA level, it may spark a notable rally.

For a more detailed prediction on how Ethereum price will perform between 2025 and 2030 – Read This.