Ethereum has shown signs of strength against Bitcoin since April, with inflows into spot Ethereum ETFs in the US driving its performance.
Analyst Michaël van de Poppe predicts a breakout for Ethereum against Bitcoin if it surpasses the crucial 0.02325 level on the ETH/BTC pair.
The ETH/BTC pair has been forming higher lows, indicating potential for a breakout, with Ethereum trading at $2,440 and aiming to retest $2,500.
Although Ethereum's momentum is currently in favor, the breakout is not confirmed until it breaches the critical 0.02325 level, which could lead to a new phase of ETH outperformance in the market.