ETH Reclaims the 50-Day EMA vs. BTC – Is the Bull Run Starting?

Ethereum has moved back above a key technical level against Bitcoin — the 50-week exponential moving average (EMA), which has marked the start of previous rallies.

At press time, ETH is priced at $3,530 with a 24-hour trading volume of nearly $38 billion. It has gained 2% in the past day and 5% over the last week.

ETH/BTC Moves Above Key Weekly Average

Ethereum’s strength against Bitcoin is being watched after reclaiming the 50-week EMA. In past cycles, this signal has marked the early stages of ETH bull markets. The same pattern appeared in early 2021 before Ethereum’s rally to all-time highs.

Chart data from Merlijn shows this recurring setup. Previous breakdowns below the 50 EMA in 2018 and 2022 were followed by prolonged declines. ETH is now back above this line. “A bullish retest here… and it’s game on,” he said, noting that if the level holds, it could mark the start of a new trend.

Moreover, Ethereum recently dropped from nearly $4,960 to a low of just over $3,000. As CryptoPotato reported, that move resembles the 2020 decline before ETH started a major rally.

Ethereum Price Builds Base Around Key Range

Technical analysis shared by Marzell points to a possible long setup forming between $3,336 and $3,400. Ethereum is trading inside this range now. The zone also matches commonly tracked Fibonacci retracement levels.

Targets on the chart include $5,982, $6,738, and $7,200. The setup assumes ETH stays above the $3,000 level. The chart also shows a long-term breakout from a downtrend line, which Ethereum appears to be retesting. If it holds, the trend may continue higher into 2026.

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Short-Term Breakout Signals Possible Rally

A falling wedge pattern has also formed on the 4-hour chart, according to analysis from Joe Swanson. The breakout occurred near $3,560. ETH is now trading slightly above that level. This pattern has a measured target near $4,415. Pointing to a potential move by mid-December, Swanson said,

“A decisive move could trigger a 25% rally.”

The 200 EMA near $3,790 may serve as the next resistance level.

Meanwhile, data shows that about 413,000 ETH has been withdrawn from Binance in a single day. This marks the largest daily outflow since February. When coins move off exchanges in large amounts, it’s often linked to long-term holding behavior.