💰💰“Ethereum will gain strength against Bitcoin!” 💰💰
Ethereum has started to gain strength against Bitcoin, and could this be a sign of a new rally in altcoins?
Ethereum (ETH), which gained 5% in the last 24 hours, has started to give positive signals for altcoins. Bitcoin's horizontal movement is remarkable. While Ethereum has been gaining value compared to Bitcoin for a few days, it seems possible that an altcoin rally will begin if this trend continues. So, what does onchain data say about Ethereum?
Ethereum is currently trading around $ 3,350, while 3.34 million addresses are stated to have a total of 3.18 million ETH and are in profit. According to the data, Ethereum's main resistance is at $ 3,508. Approaching this level, 3.90 million addresses have purchased 1.62 million ETH. If the buying pressure increases, it seems possible for ETH to overcome this resistance level and approach $ 4,000. The $ 4,000 level constitutes an important resistance both technically and psychologically and has the potential to affect the short- to medium-term price movements of altcoins.
Crypto analyst Michael van de Poppe delighted altcoin investors with his ETH comment on December 24. Poppe shared his positive view of Ethereum by predicting that the ETH/BTC parity will exceed 0.04 in January. According to Poppe, ETH will gain strength during this process and outflows from BTC will increase. This indicates a period when Ethereum gains value against Bitcoin and may lead to significant increases in altcoins. More severe increases can be observed especially in cryptocurrencies in the Ethereum ecosystem.
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