🚀🚀 Ethereum bullish confirmation🚀🚀
‼️🚨consolidation after yesterday 🚨‼️
⚠️Ethereum analysis this November 27⚠️
While Bitcoin struggles to maintain its momentum near the $100,000 mark, Ethereum's price movement is attracting attention as it is currently trading above $3,400.
The idea of an Ethereum-led rally is supported by the historical downward trend of Bitcoin dominance during corrections. Altcoins typically experience an increase in market share and price action when Bitcoin dominance declines. This trend is best illustrated by the cryptocurrency market of 2017, when Ethereum and other altcoins surged while Bitcoin cooled. Based on rising trading volumes and bullish technical indicators, Ethereum appears to be gaining strength in the current situation.
There is still an opportunity for additional bullish momentum as the RSI is in a neutral zone. Ethereum saw a strong uptrend and overcame important resistance levels, such as $3,000 and $3,200. Due to its relative stability, Ethereum is the preferred option for investors given the uncertainty created by the decline of Bitcoin. An important psychological and technical level of $4,000 could be tested if the price rises above $3,500.
