Key Takeaways
- Ethereum is showing structural strength, with a confirmed higher low on both USD and ETH/BTC pairs. Smart money is rotating in, and growing market share, all point to ETH attracting its flow.
Zooming out, Ethereum’s [ETH] 20% weekly rally fits right into the broader risk-on tone, with Bitcoin [BTC] printing three straight green weeks.
That strength helped ETH break through two major resistance zones with ease. In fact, since the mid-June low, ETH has rebounded over 50%, double the move BTC managed in the same window.
However, zooming in, ETH’s 6% daily pump (the strongest among top majors) highlights a growing divergence between the two.
Reinforcing this, the ETH/BTC pair just printed its first higher low since 2023.
Source: TradingView (ETH/BTC)
In technical terms, a higher low forms when price finds support above the previous swing low, suggesting buyers are defending higher levels. Historically, it’s a precursor to sustained upside.
Case in point: The May rally. ETH/BTC flipped structure and ripped nearly 100% off the lows. On the USD chart, ETH bounced hard off the $1,850 level, rallying close to 40%. Clear rotation out of BTC and back into ETH.
The problem was that the move never locked in a higher low, and the momentum fizzled.
Now, though, the structure is starting to switch again. Does this mark the start of a broader trend shift, and is $3,000 shaping up as the next solid base for Ethereum to build from?
Ethereum’s move has legs
To write off the BTC-to-ETH rotation as just reflexive flow or a dead cat bounce, we need to see if Ethereum’s 6% move has real legs, beyond simply being Bitcoin’s “next best” alternative.
Interestingly, Ethereum dominance (ETH.D) just printed a clean higher low, which kicked off a 4.73% green daily candle on the 15th of June, marking the strongest in over two months.
Since then, ETH.D has climbed to 10.33%, its highest share of the market across Q2 and Q3 combined. That’s a clear sign capital is rotating into ETH with intent, lifting market share and pushing its cap closer toward the $400 billion mark.
Source: TradingView (ETH.D)
Adding to that, Lookonchain flagged three sizable whale entries, millions in ETH picked up in what looked like high-conviction buys.
Put it all together, strong structure, smart money flow, and climbing dominance, and ETH’s setup is looking anything but reactive.
It’s carving out its own bid and could very well turn $3,000 from a ceiling into a launchpad.
