- Altseason peak bullish phase arrival steps closer.
- Bitcoin Dominance prepares to collapse.
- Ethereum (ETH) could experience a sharp price rally soon.
The crypto market grows bullish as the prices of altcoins show promising pump indicators across their various respective price charts. This marks the moment where altseason peak bullish phase arrival steps closer as Bitcoin Dominance gets ready to collapse. The price of the pioneer altcoin, Ethereum (ETH) , shows strong signals of a rally soon, which in turn could propel the prices of promising altcoins as well.
Altseason Peak Bullish Phase Arrival Steps Closer
Since the bull cycle began, expectations for altseason to arrive have been growing more and more bullish. What’s more, the fact that altseason was likely delayed this bull cycle is what has led to even more bullish expectations for altseason once it actually kicks off. When altseason was initially expected to arrive, it was in Q1 of 2024. However, due to Bitcoin’s early pump this bull cycle, altseason was delayed.
This was because, instead of altseason arriving in Q1, the crypto market experienced a major correction instead. This correction caused the price of Ethereum to bottom and ultimately set up a much healthier market for altcoins to thrive in the months ahead. Up to Q3, the price of ETH pumped steadily, allowing SOL, BNB, and ETH to set new ATH prices, further fueling bullish expectations when altseason arrived.
Most recently, the crypto market is facing another dip in prices , with both BTC and ETH prices dropping to lower targets. This has led to much debate between analysts and market experts who expect different outcomes in the coming days ahead. While most expect a rally to occur after the short correction, others expect a much greater dip in prices to close CME Gaps at lower price levels before a recovery can take place.
Bitcoin Dominance Ready to Collapse
As we can see from the post above, this one reputed crypto analyst, trader, and market enthusiast states that the current market sentiment bodes very well for the prices of altcoins in particular. He says that the quiet and pessimistic sentiment is the opposite of what the altcoin price chart looks like from a macro perspective. He also highlights how Bitcoin Dominance is close to finishing a bearish pattern that could lead to a heavy fall.
This, paired with what the analyst in the post above says that ETH loves to scare bulls and that it’s going for it again, signifies that ETH is almost done with its deep retest after breaking out from a bullish megaphone pattern. With this move already in play, the analyst concludes that the $10,000 bull target for ETH is still very much in the books as long as ETH price does not fall below the black line as indicated in the image accompanying the post.
