The growth of BTC has started to influence ETH, which many are already burying. But, of course, that's in vain. During the altseason, it will rise first. In terms of profitability, it should outperform BTC.
The momentum of 3% for the asset was due to strong signals of a potential high on the 15-minute timeframe. Additionally, there is a signal for a potential high on the 2-hour timeframe. However, this does not necessarily mean a correction is imminent. The asset is locally breaking out of the accumulation phase that has been ongoing since November 13. The nearest liquidity targets are above the highs of November 12 and 13. According to the indicator, the targets are approximately in the same vicinity; further, the nearest important targets lie in the range of $3,500-$3,600.
The asset is in a stable uptrend on important minute and hourly timeframes, except for the 4-hour timeframe. A transition to a stable uptrend on the 4-hour timeframe would be a good sign for bulls.
So when will the real growth of #ETH and the altseason begin? When ETH returns to a stable uptrend on the weekly timeframe. After this signal, there may be a local pullback. But we will consider ETH's move to a new ATH and the start of the altseason as a resolved issue and very close. Look at the screenshot of the weekly timeframe and you will understand the reason for the confidence. The question of transitioning to a stable uptrend on the weekly could be resolved already on the current weekly candle.
