Ethereum

2024

Bitcoin

Gains

<p>The breakout from a 2-year ascending channel in Bitcoin dominance signaled a change in market dynamics. As BTC.D dropped, altcoins like Ethereum were on their way up, with traders looking for a rally in December 2024 and Q1 2025 for smaller-cap assets. With Ethereum price crossing key targets altcoin season could be around the corner, it is though?</p> 
<h2 class="wp-block-heading" id="h-ethereum-price-breaks-the-key-resistance-eyes-6k-target-as-altseason-looms"><strong>Ethereum price Breaks the Key Resistance, Eyes $6K Target as Altseason Looms</strong></h2> 
<p>Mikybull Crypto noted that <a href="https://www.thecoinrepublic.com/2024/12/08/large-holder-flows-turn-net-negative-as-sentiment-shifts-to-bearish-for-ethereum-price/">Ethereum</a> price broke a key resistance level, putting the crypto in play for a rally up to a $6,000 target.</p> 
<p>ETH price action held back bullish momentum out until the breakout signaled renewed bullish momentum with a potential retest of the resistance-turned-support level before further upward movement.</p> 
<p>This bullish case fitted the narrative of an upcoming ‘altseason’ for the altcoins to pump significantly.</p> 
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   https://twitter.com/MikybullCrypto/status/1865922815813124569 
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<p>Ethereum price rallies have historically helped to kickstart broader altcoin market momentum. That means a powerful ETH could set the ground running for some major activity across the wider market.</p> 
<p>Ethereum price has since recovered and even posted a good upward trend that makes it lead the crypto market.</p> 
<p>Traders and investors are keeping a close eye on how well ETH can hold on to its breakout. It could be the spark to a brand new bullish phase not only for Ethereum but also for the entire altcoin market as well.</p> 
<h2 class="wp-block-heading" id="h-altseason-heats-up-march-predicted-as-the-peak-for-massive-gains"><strong>Altseason Heats Up: March Predicted as the Peak for Massive Gains</strong></h2> 
<p>Mikybull Crypto also pointed out that the <a href="https://www.thecoinrepublic.com/2024/12/03/stablecoin-liquidity-redefines-altseason-dynamics-in-crypto-market/">Altcoin Season Index </a>hit a score of 90, indicating the start of a season when many altcoins make huge gains.</p> 
<p>Based on this indicator, which showed altcoin performance relative to Bitcoin, altcoins were performing better than BTC. Historically, it has been associated with gains of the wider crypto market.</p> 
<p>According to the data, altseason could be expected to culminate in March as the index rises steadily towards its highest levels.</p> 
<p>It was in accordance with CryptoWizard’s prediction, who claimed the months of February until May to be of utmost importance for the accumulation of big market wins and exits.</p> 
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<p>Also showing a current score of 90 was the growing market interest in altcoins as a way to rotate from Bitcoin into smaller-cap cryptocurrencies searching for more returns.</p> 
<p>History has proven time and again that this trend leads to explosive price movements in altcoins. Hence, it was a key opportunity window for traders in altcoins and Ethereum price. </p> 
<p>If the momentum continues through the month, March could be the month where altcoins will hit their highest valuation of the year and, in return, create favorable periods for traders to make the most profit.</p> 
<h2 class="wp-block-heading" id="h-bitcoin-dominance-breaks-2-year-channel-altseason-gains-momentum"><strong>Bitcoin Dominance Breaks 2-Year Channel, Altseason Gains Momentum</strong></h2> 
<p>Bitcoin Dominance (BTC.D) also broke out of its 2-year trading channel, which meant the beginning of speculation that the market was about to shift gears as altcoins take the center stage.</p> 
<p>According to Aditya Siddhartha Roy, December 2024 and the Q1 of 2025 look like a major opportunity window for traders and a critical exercise period for altcoins.</p> 
<p>In the BTC.D price, some commentators suggested that the Bitcoin dominance could take a nosedive to around 40 percent to 42 percent level, in line with the past trend where altcoins surpassed Bitcoin during such periods.</p> 
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  <img loading="lazy" decoding="async" width="1024" height="463" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-177-1024x463.png" alt="BTC Dominance weekly chart | Source: Trading View" class="wp-image-871603" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-177-1024x463.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-177-300x136.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-177-768x347.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-177-1536x694.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-177-150x68.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-177-696x315.png 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-177-1068x483.png 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-177.png 1600w" sizes="auto, (max-width: 1024px) 100vw, 1024px">
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   BTC Dominance weekly chart | Source: Trading View
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<p>This drop was an indication of the direction of liquidity flow from Bitcoin to smaller-cap assets, a hallmark of ‘altseason’. They could expect to see this. Otherwise, alts could be in profit-taking condition once BTC.D is over 40% to 42%.</p> 
<p>A break from the long-term channel showed a potential period in which the market could become more volatile.</p> 
<p>A sudden drop in Bitcoin’s dominance could have a ‘price pumping’ effect on the altcoin market with significant opportunity and risk for traders. With BTC.D going downward, the altcoin market could be ready for a massive bull rally.</p> 
<p>Key levels should be monitored closely and trades should be exited in a good disciplined way, as this period is critical in the making of gains and overall management of risks.</p> 
<p>The post <a href="https://www.thecoinrepublic.com/2024/12/10/altseason-set-to-follow-ethereums-price-6k-breakout/">Altseason Set To Follow Ethereum Price $6K Breakout: Why?</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.</p>

Altseason Set To Follow Ethereum Price $6K Breakout: Why?

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