Crypto enthusiasts are closely watching the ETH/BTC chart as it may signal the start of altseason. According to CryptoPatel, a nearly identical macro correction of around 80% is underway, mirroring previous cycles.
The chart is currently holding its historical Accumulation zone and has shown a strong reaction from the 0.618-0.786 FIB Golden Pocket. Additionally, higher lows are forming, indicating accumulation rather than distribution.
The only major obstacle left is the 0.065-0.080 ETH/BTC macro Bearish Order Block. A confirmed breakout above this zone would be a significant technical signal that ETH could enter its next phase of relative strength against BTC.