Ethereum (ETH) is close to a crucial point as the market awaits its direction. The price is still below many major price points, but the current trend against Bitcoin could be the beginning of a new era for altcoins.
At the time of writing, Ethereum (ETH) is trading at $1,962. ETH has a trading volume of $15.57 billion in the last 24 hours and a market capitalization of $237.97 billion, according to CoinMarketCap data. ETH has declined by 1.10% over the last 24 hours as it consolidates after the latest price volatility.
Source: CoinMarketCap
Crypto analyst JAVON MARKS said on March 7, 2026, that Ethereum might be at a critical juncture in its development in terms of Bitcoin. He said that the ETH/BTC pair has just broken out of a major formation, which might mean that Ethereum is going to have its best run in years.
Source: X
MARKS also pointed out that the current ETH/BTC pattern is similar to that of the prevailing market structure in 2017, when there were impressive gains in altcoins. This pattern might result in a shift in capital from Bitcoin to altcoins.
Despite the bright outlook, the asset is still facing resistance in the short term. The price is sitting just below the 20-day moving average at $1,978, implying that the buyers have not yet taken full control.
Price is still below the other moving averages: the 50-day average at $2,300, the 100-day average at $2,684, and the 200-day average at $3,336.
For the momentum indicators, the Relative Strength Index (RSI) stands at 44.11, which is above its signal line of 41.72 but still below the 50 mark.
Source: TradingView
Moving Average Convergence Divergence (MACD) shows signs of gradual improvement. The MACD line still shows a negative figure of -62.45, but the signal line still shows -94.03. However, the histogram now shows a positive figure of 31.57.
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Ethereum’s technical configuration suggests a possible stabilization. Nevertheless, a strong move above the resistance levels will be needed to have a clearer trend.
On the other hand, the ETH/BTC breakout, as emphasized by MARKS, continues to draw interest from analysts who see its potential to shape the course of the crypto market’s next phase.
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