Ethereum price rose 8.6% to $3,642.23 with volume increasing by 13.26% to $54.24 billion.
ETH/BTC gained 6.7%, showing stronger Ethereum momentum against Bitcoin.
Altcoin season index climbed to 37, exiting Bitcoin-dominated territory.
Ethereum has registered a good price increase of 8.6% in the last 24 hours, at $3,642.23. This comes after growing altcoin strength against Bitcoin. Particularly, the ETH/BTC pair has gained 6.7%, supporting Ethereum's dominance rally.
Market indications are that Ethereum's resistance is at $3,643.84, with the subsequent support at $3,353.56. Trading volume also increased, with daily volume at $54.24 billion, a 13.26% rise. At the same time, Ethereum's market capitalization increased 8.83% to $441.1 billion. These figures accompany a larger trend reversal reflected in the altcoin season index chart, which reveals altcoins strengthening.
Ethereum Volume and Capitalization Surge with Price
Ethereum’s market cap stands at $441.1 billion, registering an 8.83% increase over the past 24 hours. Alongside this, its fully diluted valuation also matches this figure at $441.05 billion. This parity indicates no supply inflation from token unlocking events during this price rally.
Source: CoinMarketCap
Volume has also seen significant action, now resting at $54.24 billion over 24 hours. This shows heightened trading interest. The 13.26% increase in volume is happening as Ethereum is breaking out above $3,600. This related growth in price, market cap, and volume shows ongoing buying interest.
The price is currently just below the short-term resistance point of $3,643.84. Being in a position to sustain prices above it could drive Ethereum into a new price region. However, support at $3,353.56 remains the critical level to watch if pullbacks occur.
ETH/BTC Strength Aligns with Rising Altcoin Index
Ethereum has outperformed Bitcoin on the daily timeframe. The ETH/BTC pair climbed by 6.7%, placing Ethereum in a stronger short-term position. This aligns with developments on the altcoin season index, where the metric has risen from below 25 to 37.
The index tracks performance of altcoins relative to Bitcoin. A reading above 25 moves the market out of Bitcoin season. The trend is now heading toward the 75 threshold, which defines a full altcoin season.
The upward trajectory began in late June, following months of lower index levels. Between March and May, the index stayed below 25, marking Bitcoin dominance. Ethereum’s breakout from that period aligns with broader altcoin recovery.
Altcoin Season Index Shows Momentum Reversal
The altcoin season index now stands at 37, moving sharply away from the Bitcoin season boundary at 25. The chart shows a turning point in early July. This marked a reversal from months of subdued altcoin performance.
https://twitter.com/cryptojack/status/1946064939375833376
Ethereum’s latest price action correlates directly with the rising index levels. Previous surges in this index occurred in November 2024, where the index peaked near 90. Though current levels remain far from that peak, the directional change remains notable.
If the index continues to rise, altcoin activity could increase further. Ethereum remains the lead altcoin in this context, reflecting this shift in its BTC pair performance.
