Ethereum (ETH), with the recent mobility attracted the attention of investors again. Bitcoin domination decreased by 6 %in the last 11 days, while the price of Ethereum recovered from $ 2,500 and gave rise signals. These developments may indicate the beginning of a new acceleration in the Altcoin market. In particular, technical indicators suggest that Ethereum can reach $ 4,000.
Ethereum is preparing for the rise
The recent fall of Bitcoin’s market domination shows that capital shifts to other crypto beings (Altcoin). Such decreases are generally seen as the beginning of the Altcoin season and Ethereum is among the prominent beings in this process. In the last 11 days, Bitcoin’s market share decreased by 6 %, led investors to Ethereum. The price of ETH has increased by 1.33 %today and entered the recovery process.
According to technical analysis, Ethereum’s first major resistance is between 3,119 and $ 3,285. Exceeding this level can direct the ETH price towards $ 4,000. Analysts think that a strong closing above this level can trigger a new wave of purchase. Ethereum’s current price movements show that this target is accessible.
Technical indicators and corporate interest
Ethereum price has increased by 27 %since the beginning of February. In this process, the recovery starting from $ 2,125 indicates that the rise can continue. Exceeding equal peak points of $ 4,093 can re -test Ethereum’s highest level of all time of $ 4,868. Ethereum Foundation’s transfer of 30,800 ETH for defias activities was an important move that reduces sales pressure in the market. This helped to reduce the negative pressure on the price. In addition, the purchase of $ 100 million ETH ETF via Goldman Sachs via Blackrock and Fidelity shows that corporate interest has increased. These developments are among the important factors that support the long -term value of Ethereum.
For investors, the next movements of Ethereum should be closely monitored. If the decline under the dominance of Bitcoin continues, new peaks may be seen in the Altcoin market. ETH’s rise potential makes it a remarkable being in this period.
