On the 15th (local time), Cointelegraph cited the analysis of some analysts and reported that "Ethereum's latest technology
"A technical breakthrough could be the beginning of a vertical uptrend with upside potential of up to 1,100%," the report said. Bitcoin fell to $117,512, while Ethereum
continued its daily gains to hit a weekly high of $3,130, the first time it has recovered above $3,000 since February 1.
Analysis firm Swissblock notes that Bitcoin's previous four bull markets lasted an average of 15 to 30 days.
Based on this, he analyzed that "as the rally is now in its 12th day, BTC profits are being realized, and these funds are flowing into altcoins including ETH."
This trend is also evident in the ETH/BTC trading pair, which has formed a daily upper bullish structure for the first time since May 24 and has risen above the 200
It has broken through the daily moving average, sending out a medium- to long-term bullish signal.
Pillows said, "ETH/BTC's weekly relative strength index (RSI) has broken above its three-year descending trend line."
The RSI golden cross is also imminent, further supporting a possible trend reversal. Combined with the downward trend in Bitcoin dominance, the market
The market is showing signs of an "alt season" centered around Ethereum.
Trader claims that Ethereum is moving in a similar cycle to Bitcoin's 2018-2021 cycle, and through fractal analysis, it is clear that ETH is on track to be the fastest this time.
He argued that a rally in the cryptocurrency could see a rise of up to 1,110%, meaning the cryptocurrency could rise from its April low of $1,550 to as much as $18,205.
Merlin believes that the same pattern that BTC has seen in the past, where it fell about 63% and then rebounded 342%, could apply to ETH.
In fact, Ethereum has successfully rebounded by about 100% since the second quarter to date, which suggests it has entered the early stages of this pattern.
Of course, fractal analysis is not an empirical or verified theory in itself, but a visual kind of
This is an analysis method based on similarities, and there is no guarantee that past patterns will be repeated in the future. However, such similarities stimulate bullish sentiment and increase expectations for further increases in ETH.
It acts as a factor.
2025/07/16 12:56 KST
Copyright(C) BlockchainToday wowkorea.jp 117
