The analyst discusses Ethereum's strength relative to Bitcoin, noting ETH has outperformed BTC since May. The ETH/BTC chart shows a strong uptrend, unbroken so far. A major resistance level is approaching on the ETH/BTC chart. The long-term target price for ETHUSDT is $5250. A short-term drop to $4500 or $4400 is possible but is not guaranteed. A drop bellow $4400 would invalidate the analysis. Fundamentals for Ethereum are strong, the analyst highlights that DEX trading volumes are at all-time high levels.