Ethereum Market Dominance
The first chart that shows that the price of Ethereum could resume its upward trend towards $4,000 is the ETH market capitalization dominance chart. This chart shows that Ethereum's dominance recorded a rapid increase in May before the bullish trend cooled off and formed a consolidation range.
This formation represents the creation of a bullish flag pattern, which could trigger a 32% increase in Ethereum's dominance if the flag resistance is surpassed. This increase could push ETH's dominance to 13%, and the last time it reached this peak, in December 2024, the price of Ethereum traded at $4,000.
Ethereum's dominance is growing due to the increase in spot ETH ETF inflows. If this continues, it could drive the 32% rally and push ETH's price above $4,000.
