Will ETH hit $3000? When will the altcoin season truly ignite? This article takes you through the current market undercurrents!
In a time of rapid market fluctuations, Bitcoin continues to weaken, with bearish candlestick patterns frequently appearing. ETH has also followed suit, retreating again from the $2800 mark, which has become a lifeline for short-term bulls. The $2400 support is precarious, and if it falls, ETH may face a deeper correction. However, the struggle between the parallel channel, golden cross potential, 50-day moving average, and 200-day moving average also hides the chance for a rebound!
Geopolitical turmoil stirring up trouble:
The tense geopolitical situation in the Middle East (Israel vs. Iran) has severely impacted the market, with $1 billion liquidated within 24 hours triggering a V-shaped downturn across the network, causing ETH to give back all previous gains. Market risk sentiment is at an all-time high, making it difficult to see strong bullish signals in the short term.
Is the altcoin season being delayed?
The altcoin season indicator briefly surpassed Bitcoin, but Bitcoin's dominance has since rebounded, with liquidity flowing into leading assets. In the short term, altcoins are unlikely to dominate the market. Only if Bitcoin's dominance falls below 55% might we see a true altcoin wave emerge. For now, the altcoin season may have to wait until the second half of 2025, or even longer!
The market is ever-changing, and opportunities only favor those who dare to perceive the trends and act decisively! Currently, it is crucial to strictly control risks, closely monitor Bitcoin's dominance and ETH's key support, and wait for the right moment to seize every opportunity the market presents!
