Bitcoin price declines drawing trader attention to ETH.
Ethereum just completed a bullish Adam & Eve double bottom pattern.
ETH prepares for an imminent price launch to $4,800 and above.
The price of Bitcoin, the pioneer cryptocurrency, continues its long sideways movement following its ATH set at $108,000 price range last week. Presently, the price of Bitcoin hovers at $94,000 as analysts expect a possibly greater dip to the $85,000 range before an explosive price recovery.
Bitcoin’s Decline Draws Eyes to ETH Pump Potential
Once this long dip is complete, Bitcoin price is expected to make a significant recovery taking the price of BTC over $110,000 and setting new ATHs. These future ATHs will likely arrive next year and take the BTC price from $125,000 to $200,000. Meanwhile, altcoins are following Bitcoin’s lead.
Many analysts believe that altseason has started early this year leading many altcoins to pump and even set ATHs of their own. While assets like SUI and ONDO already set new ATHs, other popular altcoins like DOGE and SHIB are yet to set new ATHs and are showing strong bullish signs for major pumps in the peak of the ongoing altseason.
ETH Prints Bullish Adam & Eve Double Bottom Pattern
This peak is expected to begin in January 2025, led by ETH. Ethereum is also showing highly bullish pump signs. To highlight, one analyst draws attention to a specific bullish signal being printed by the pioneer altcoin at the moment. As we can see from the post below, the analyst calls this an Adam & Eve Double Bottom Pattern.
https://twitter.com/JavonTM1/status/1871324363267711475
To elaborate, he says that this major bullish sign that ETH is displaying showcases a near term bullish reversal. This signals a major pump that will soon commence and take ETH price to the $4,000 price range. The analyst sets the next major target for ETH at $4,800 before moving to set much higher ATHs.
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