Ethereum's recent surge, the 3500 to 4000 USD range can’t hold up! Is the altcoin season really coming?
First, let's talk about Ethereum's market trend—technically, the weekly chart has climbed up from the bottom, doubling in value! The last two weeks saw the K-line form two long lower shadows, looking like it was about to give up, but this week it has rallied again, and the bullish momentum remains strong. According to the weekly line chart, if this wave reaches the top range, the 3500 to 4000 USD area may not be able to withstand it.
Here's the key point! Right now, the ETH/BTC exchange rate is the crucial signal—both the monthly and weekly charts are flat on the floor; if this exchange rate suddenly starts a surge, it would basically mean a collective boost for altcoins. The long-term indicators are all shouting 'just do it', so I have quite a bit of confidence about the altcoin season.