Ethereum has printed a short-term golden cross against Bitcoin on the hourly chart, a signal that has traders watching for a potential comeback in the ETH/BTC pair. The 50-hour moving average rose above the 200-hour moving average following a crossover, marking a shift in momentum after weeks of underperformance.
The move comes after Ethereum bounced from its June lows, concluding a multi-week decline that began in mid-April. Following a period of consolidation, ETH/BTC broke above the 0.027 level, which coincides with the daily 50-day moving average — a level Ethereum has traded below since April 23.
Galaxy Digital's Head of Research, Alex Thorn, highlighted the development on social media, asking, "Can I say something?" Thorn had earlier drawn attention to a death cross on the ETH/BTC daily chart at the start of 2026, a signal that largely went unnoticed amid broad cryptocurrency optimism.
The golden cross on the hourly timeframe is considered a short-term bullish indicator, but caution persists. Ethereum has been in a downward trend since the beginning of the year. While the RSI across various timeframes has rebounded from oversold levels to neutral or positive territory, a confirmed price reversal has yet to materialize.
The ETH/BTC ratio is often seen as a gauge for broader altcoin market sentiment, with a rising ratio historically coinciding with periods of altcoin outperformance. As such, traders are closely monitoring whether this technical signal marks the beginning of a sustained trend shift.
