ETH/BTC: Range Holds Ahead of Breakout

Michaël van de Poppe flags $ETH vs $BTC locked in a range, with the next breakout likely to dictate overall momentum and an upward resolution the base case.

ETH trades at $2241.05 beneath both the EMA50 at $2288.38 and EMA200 at $2409.93, confirming the bearish structure while the MACD death cross at -18.44 keeps downside pressure intact. RSI at 41.62 offers no overbought relief, and price remains inside the Bollinger bands with upper resistance at $2465.62 and lower support at $2132.67, suggesting any relief rally would first need to clear the 50-EMA before challenging the upper band.