According to BlockBeats, Raoul Pal, a former Goldman Sachs executive and founder of macro research firm Real Vision, has stated that ETH/BTC is preparing for a massive breakout. He believes that ETH/BTC is about to break through a significant diagonal resistance on the weekly chart. "The ETH/BTC chart is absolutely amazing and ready for the next big move: breaking the huge wedge," said Pal. In his chart, the trader suggests that ETH/BTC has already broken out of a downward channel, indicating an imminent bullish trend reversal. His chart also implies that ETH/BTC may break through a multi-year declining wedge pattern.
Other analysts are also becoming bullish on Ethereum. Glassnode founders Jan Happel and Yann Allemann recently stated that the sudden rise in ETH/BTC indicates that Ethereum itself and other alternative tokens are about to soar. "When ETH/BTC goes up, altcoins go up too. And we just broke up after a long consolidation since the end of 2021," they said. Mark Yusko, CEO and founder of Morgan Creek Capital, believes that if Bitcoin reaches $150,000, Ethereum could potentially reach the $15,000 level.