Strategist: The ETH/BTC exchange rate may have already hit bottom, a breakthrough above this month's high will drive a trend reversal

LMAX Group market strategist Joel Kruger said that the current trend in Ethereum prices suggests a possible end to its years-long decline compared to Bitcoin.

In his Monday market report, Kruger stated: "There are signs that Ethereum may finally bottom out after a long-term downtrend against Bitcoin. We believe it is very important to closely monitor the monthly highs of the current ETH/BTC exchange rate. If it breaks through and exceeds the current monthly high, it will help promote prospects for a trend reversal."