ETH/BTC Chart Hits 2-Month High: What Analysts Are Saying

Ethereum's ETH/USD three-day price rally has pushed the cryptocurrency’s price past $1,500 and seen it reach a two-month high against Bitcoin BTC/USD.

What Happened: The ETH/BTC trading pair rallied by more than 30% over the last few days, as per data from Benzinga Pro.

Many believe the rally was brought about by Ethereum developer’s floating a tentative date for the Merge, an event marking the blockchain’s much anticipated transition to Proof-of-Stake. 

On Monday, the ETH/BTC pair briefly touched 0.088 before dropping back down to 0.069. Even at this level, the pair appears to have made back three months of downside in three days. 

Analysts on Twitter weighed in on ETH’s breakout against BTC, sharing opinions of whether the rally would remain sustainable in the weeks to come. 

See Also: Ethereum Outshines Bitcoin, Dogecoin In Crypto Surge: Is Second-Largest Coin On A 'Hopium' Trip?

Price Action: At press time, ETH was trading at $1,517, up 8% over the last 24 hours. BTC was trading at $21,843, gaining 2.75% over the same period.