ETH/BTC shows bullish signals: Here are the key levels worth following

Ethereum [ETH] has had a mediocre performance recently. After reaching a high of $4,100 on December 2nd, ETH quickly fell 20.13% to $3,200 (Trading View data). This sharp drop indicates continued selling pressure in the market.

Despite the selling activity, a new bullish pattern has emerged - a high probability setup that suggests sellers may soon lose their dominance as buyers step in to push prices higher.

High probability setup: Will ETH bounce back soon?

ETH/BTC is showing signs of potential rebound, forming a high probability setup. A symmetrical triangle pattern has emerged, with prices fluctuating between converging support and resistance levels.

The emergence of this pattern within the monthly time frame enhances the possibility of a bullish breakout.

Currently, the price is trading near the bottom of the pattern, at a support level, indicating the possibility of a significant increase.

If this pattern is implemented, ETH may rebound, and there are three key levels worth following: 0.0540, 0.0859, and 0.1202. This indicates that buying 1 ETH with BTC may become increasingly expensive.

Ethereum [ETH] has recently performed poorly. After reaching a high of $4,100 on December 2, ETH quickly fell by 20.13% to $3,200/Trading View. This sharp decline indicates sustained selling pressure in the market.

Despite the selling activity, a new bullish pattern has emerged - a high probability setup implying that with buyers stepping in to push prices higher, sellers may quickly lose control.