Ethereum chart signals ‘altseason’ as analysts predict $10K ETH price top
Ether's technical indicators suggest that the price of ETH may reach $10,000 in the current market cycle. Analysts, including Mikybull, have identified potential breakout levels around $3,200 and projected high targets of $9,400 to $10,000 for ETH. The Altcoin Season Index indicates it's an opportune moment to invest in altcoins, which have lagged behind Bitcoin in recent performance. With Bitcoin dominance nearing 70%, historical trends suggest that a significant shift toward altcoins is imminent. Currently, Bitcoin's market dominance stands at 65.77%, signaling a continuation of Bitcoin season, but a drop below 70% could lead to a full-blown altseason. Analysts are advising investors to prepare for opportunities in altcoins as cycles of outperformance tend to repeat when the Altcoin Season Index rises above 20%. Overall, market sentiment is bullish for Ethereum and altcoins in the coming weeks and months.
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