Analyses show that Ethereum (ETH) is demonstrating strength compared to Bitcoin (BTC), a positive signal for the entire altcoin market. Here are some noteworthy points from the article:
1. Recent performance of ETH:
• ETH price has increased by 5% in the past 24 hours, outperforming BTC in recent days.
• ETH is currently priced at $3,350 and has the potential to reach a key resistance level at $3,508 if buying pressure increases.
2. Support from investors:
• There are currently 3.34 million addresses holding ETH at a profit, indicating a significant number of investors have confidence in this currency.
• The key resistance level at $4,000 is not only technical but also psychological, and could become the next target if the bullish momentum continues.
3. Impact on the altcoin ecosystem:
• If the ETH/BTC ratio exceeds 0.04 as predicted by Michael van de Poppe, ETH could lead a bullish rally in the altcoin group.
• Cryptocurrencies in the Ethereum ecosystem (such as DeFi tokens, NFTs) could benefit significantly from this trend.
4. Expert opinion:
• Michael van de Poppe believes that capital will shift from BTC to ETH, leading to a significant price increase for Ethereum compared to Bitcoin.
• This positive outlook could boost the confidence of altcoin investors, adding further momentum to the market.
Conclusion:
If Ethereum maintains the current trend and surpasses key resistance levels, it will not only create momentum for itself but also stimulate a bullish wave across the entire altcoin market. However, investors need to be cautious of risk factors and short-term price volatility.