ALTSEASON COMING...?
TECHNICAL ANALYSIS BTC/ETH GRAPH🔥🔥🔥
The BTC/ETH graph with Bitcoin at approximately 122,000$ and Ethereum at approximately 4,300$ highlights technical signals of a possible imminent breakout, a crucial scenario for a potential altseason. Ethereum has recently surpassed the key resistance around $4,000, consolidating above this level with positive momentum, while Bitcoin is currently under pressure in a range between 120,000 and 122,000$, with important resistances between 120,000 and 122,000$ that need to be strongly overcome to regain bullish momentum.
From a technical standpoint, Ethereum shows a daily bullish trend with solid support between 3,700 and 3,750$ and has broken the 4,000 - 4,100$ zone with a strong breakout. Bitcoin, on the other hand, has broken the 50-period moving average (around $117,000) and has currently erased the bearish pressure of recent weeks, now aiming for new highs. Indicators such as RSI are neutral or close to overbought levels on ETH, with increasing volumes, signaling growing strength.
The BTC/ETH dynamic, with ETH gaining relative ground against BTC, often anticipates an altseason in which altcoins outperform Bitcoin. If ETH maintains the breakout with confirmation and BTC exits its upward sloping sideways channel, a breakout could lead to a rally in altcoins.
For an imminent altseason, we need to monitor:
ETH solid above $4,000, must strongly break $4,300.
BTC facing resistance between 120,000-122,000$, must strongly exceed 122,000$ for a breakout and aim for a new ATH.
If this breakout is confirmed, it would open the door to an altseason in the short term.
It is essential to monitor volumes and daily closes above these areas to confirm the bullish movement.
