Ethereum’s Ether token is nearing a significant price zone against Bitcoin, reminiscent of 2019, where it marked the onset of a substantial rebound. The current setup shows an oversold RSI and ongoing weakness below key moving averages following a prolonged decline.
The ETH/BTC pair, trading near 0.019 BTC, is approaching 0.016 BTC—the level it hit in September 2019 before surging nearly 450% over the next year. Both 2019 and the present period share characteristics of oversold relative strength index (RSI), extended durations below critical moving averages, and multi-year downturns.
In 2019, ETH/BTC saw a decline of over 90% over the previous two years, primarily due to the ICO collapse. As of 2025, the pair is down more than 80% from its peak in 2021, impacted by skepticism surrounding Ethereum’s transition to proof-of-stake (PoS), increased competition, and Bitcoin’s rising dominance as an institutional asset.
In response to these concerns, Ethereum co-founder Vitalik Buterin has proposed new architecture and standards aimed at making Ethereum simpler, faster, and as maintainable as Bitcoin within five years. One analyst labeled Buterin’s proposal as “the most bullish thing for ETH.”
The optimistic outlook comes as ETH/BTC seeks to break out of its multi-year “bearish parabola,” a resistance curve that has restricted its upside since December 2021 but showed signs of weakening as of May 3. Chartist Jimie noted, “We might see an end to this bearish parabola,” adding that if the resistance holds, ETH/BTC could drop to 0.016 BTC—similar to its bottom in September 2019.
Skeptics like Bitcoin pioneer Adam Back argue that Buterin may be overlooking fundamental design flaws while attempting to simplify Ethereum. Back critiques Ethereum’s account-based system for adding unnecessary complexity compared to Bitcoin’s simpler UTXO model, suggesting that this complexity elevates technical risks and complicates scaling and security. He cautioned that Ethereum’s shift to PoS has concentrated power among insiders by reallocating miner rewards to large token holders, stating, “At this point, just flush ETH before it hits zero and buy Bitcoin,” implying that no upgrade can rectify what he sees as Ethereum’s flawed foundation.
Source: Cointelegraph Edited by: Bernie
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