$ETH/$BTC just closed the month above the 20-month moving average. Last time it cleanly reclaimed this level was July 2020 — then $ETH/$BTC ran from 0.0315 to 0.088, and $ETH itself went from $225 to $4,372.
August 2025 briefly tagged the MA 20 but failed to hold, dumping back toward the lows. That's why holding above it now matters.
MACD is turning up from the same low zone that preceded the 2020 breakout. If this hold works, two targets come into view:
1. 0.050
2. Stretch target: old high near 0.088
ISM came in at 54.6 vs 55.2 expected — growth still strong but slowing, which could give the Fed room to pause rates.
This setup suggests $ETH might finally be ready to outperform $BTC.
August 2025 briefly tagged the MA 20 but failed to hold, dumping back toward the lows. That's why holding above it now matters.
MACD is turning up from the same low zone that preceded the 2020 breakout. If this hold works, two targets come into view:
1. 0.050
2. Stretch target: old high near 0.088
ISM came in at 54.6 vs 55.2 expected — growth still strong but slowing, which could give the Fed room to pause rates.
This setup suggests $ETH might finally be ready to outperform $BTC.
