The current price of $ETH has returned to the level seen when the altcoin market started last November. However, we can see that most high-quality altcoins are still in a slow rising phase, indicating that funds have not yet flowed in large scale from ETH to other cryptocurrencies.

What stage are we currently in the altcoin season???

1. Ethereum (ETH) is still in the early stages of a rise, but many people in the market are still hesitant to believe that this upward trend is real. There are still doubts in everyone's mind, and they are in a state of "wait-and-see + half-belief."

2. Once Ethereum's momentum accelerates further, some popular and strong-performing meme coins will start to rise as well. However, during this time, they typically won't experience particularly exaggerated surges, such as long green candles of over 30%, which are still relatively rare.

3. When Ethereum reaches a relatively high level, market sentiment becomes more enthusiastic, and investors' risk appetite will quickly increase. People will start to rush towards small tokens and altcoins, and at this point, we may see some altcoins experience surges of 30%, 50%, or even doubling in value.

We are currently in Stage 1, which is the stage of "Ethereum has risen, but people are not fully convinced yet."