$ETH BTC is at a pretty important spot right now.
If ETH is really going to stage a meaningful recovery, this chart needs to start showing relative strength here, not later.
At the moment, ETHBTC is printing a confirmed bullish divergence. It’s not the strongest setup I’ve seen, but it’s still a positive signal and definitely better than nothing.
The key level for me is 0.02850. A push above that area could start having a more constructive impact on the broader ETH chart.
On the downside, sustained closes below 0.027 would increase the risk of another leg lower.