With the recent revival in the cryptomarket, we see that many projects are performing well again. Bitcoin (BTC) finally broke through the psychological limit of $ 100,000, a crucial level that many investors were waiting for. But Ethereum (ETH)? It really steals the show with a spectacular rise of almost 30%. According to the Dutch analyst Quinten Francois, this performance made something remarkable on the ETH/BTC graph.
Largest green candle since 2021
Ethereum rose yesterday by no less than 14.86% opposite Bitcoin in what the largest terrain profit was since January 4, 2021. A welcome surprise, certainly because ETH recently achieved its lowest ratio compared to BTC in five years. In addition, the recent increase also marks the end of a six -month downward trend.
In earlier bull markets we often saw a clear pattern: capital first flowed from bitcoin to Ethereum. As soon as Ethereum found its momentum, this capital spread further to the Altcoins, which led to the infamous altseason. If Ethereum succeeds in holding the current line, this scenario may be able to repeat itself.
Although the recent increase is impressive, it is still too early to speak of a definitive trendom. In the coming days/weeks will be crucial to determine whether Ethereum can continue the bullish momentum. If this succeeds, this can sometimes be the start of a wider shift towards a long -awaited altseason.
ETH race expectations
If ETH starts his positive trend again, the question is how high it can rise. If it is up to analyst Trader Tardigrade, we should think of a course of $ 7,200, according to a recent X post.
He bases this on a breakthrough of a so -called ‘Descending Broadening Wedge’, which is a bullish pattern where the rate moves lower within a broadening channel, which indicates a possible trendome up in an outbreak.
Source: https://newsbit.nl/ethereum-blaast-bitcoin-opeens-omver-eerste-stap-naar-altseason/
