Ethereum (ETH-USD) might be the ignition key for a full-blown altcoin rally. After weeks of sideways action, ETH is flashing serious technical signals that could catapult it past previous highs—taking the rest of the crypto market along for the ride.
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ETH Breaks Out of the Garage
Crypto analysts are now calling for a potential Ethereum rally that could top out between $9,000 and $10,000 this cycle. Mikybull Crypto points to a completed Wyckoff reaccumulation pattern, describing ETH as done “testing” and now ready for a big move. Another popular analyst, XForceGlobal, sees Elliott Wave formations pointing to an imminent climb toward $9,400, calling the $2,800 level a bullish springboard.
And this isn’t some isolated moonshot forecast. Several analysts across the board are aligning on similar targets, driven by historical fractals, renewed institutional interest, especially after Ethereum ETF approvals, and a general rotation into higher-beta crypto names.
Altcoin Season Inches Closer
While Bitcoin has outshined altcoins for most of the past 60 days, the tide may be turning. The Altcoin Season Index, used to measure when non-BTC assets outperform, is sitting under 20%. According to Joao Wedson of Alphractal, that’s precisely the accumulation zone. Every time the index climbs from these levels, altcoins have historically gone on to outperform Bitcoin in short, aggressive bursts.
That moment may be close. As BTC dominance nears the critical 70% threshold, traders are watching for a snap reversal. If dominance rolls over, it could mark the start of a full-fledged altseason where Ethereum and other top altcoins lead the charge.
Market Positioning Matters
According to crypto strategist Rekt Capital, Bitcoin dominance is just 5.5% away from levels not seen since early 2021. If historical patterns repeat, that means we’re one successful retest away from a wave of altcoin outperformance.
The next few weeks could be critical. As The Chart Degen bluntly put it: “Pick the right altcoins and make a disgusting amount of money over the coming months.”
Investors can track their favourite cryptos on TipRanks’ Cryptocurrency Center. Click on the image below to check it out.
