Ethereum (ETH) has shown signs of recovery after a long period of losing dominance, rising to 12.82%. Technical analysis suggests that the 12% level is a strong support level, while the 13%-13.5% range is a critical resistance area. Rising investor confidence and layer-2 solutions support Ethereum’s potential to perform strongly in the future.
Ethereum (ETH) is showing signs of recovery after a long-term dominance decline. Ethereum dominance, which was at 18% in the middle of the year, has now stabilized at 12.82% after falling to 12%. Analyst Mikybull Crypto notes that ETH is gaining strength against Bitcoin (BTC), which could trigger a possible altcoin rally in the first quarter.
According to technical data, the 12% level indicates a strong support level for Ethereum dominance, while the resistance is in the range of 13% - 13.5%. Although upward breaks from these levels have failed in the past, this time the resistance level is broken and the daily closings are above this level, which could confirm the rise in Ethereum dominance.
The recovery in Ethereum dominance signals a positive shift in market sentiment. Layer-2 scaling solutions are increasing the efficiency of the Ethereum network, reinforcing investor confidence. Crypto analyst Ali Martinez emphasizes that 78.30% of open interest in Ethereum futures is bullish.
The altcoin is currently trading at $3,415.90 with a 24-hour trading volume of over $16 billion. ETH continues to regain market confidence, gaining 0.88% in the last 24 hours.
The stability of Ethereum’s dominance signals a possible market transformation. Technical indicators emphasize the importance of support and resistance levels, while market sentiment and institutional investor interest suggest that Ethereum could perform stronger in the coming period.