Ethereum is experiencing significant weekly gains, reaching a quarterly high of $2,956 and displaying a 6% increase in the ETH/BTC chart. This comes as Ethereum breaks a 161-day descending trendline, sparking renewed market interest and potential for a bullish reversal. Traders are optimistic, especially since the ETH/BTC pair needs to close above the 50-day simple moving average (SMA) to signal a stronger trend reversal. Crypto analysts note that this setup appears to provide one of the best buying opportunities for ETH in four years. Additionally, the TOTAL3 market cap chart, excluding Bitcoin and Ethereum, is testing key resistance levels, which could lead to upward momentum for altcoins. The ETH/BTC pair also reveals a significant bullish divergence on a monthly basis, indicating the probability of a sustained uptrend as key resistance is approached.

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