- Ethereum following Bitcoin bull path from the last cycle.
- ETH outperforms BTC, standing as the best looking chart at the moment.
- These signs depict a highly bullish altseason on the horizon.
Since Bitcoin set its latest ATH in the $123,000 price range, expectations for Ethereum price to pump to a new ATHs has grown even stronger. In fact, all altcoins are expected to pump significantly in the coming weeks ahead. In particular, analysts notice Ethereum following Bitcoin bull path from last year making ETH stand as the best looking chart amongst many in the space at the moment.
Ethereum Following Bitcoin Bull Path From Last Cycle
The price of Bitcoin surges rapidly from the $112,000 price range to the $123,000 price range in under 48 hours. After this new ATH, the price of Bitcoin (BTC) retraced back to the $117,000 price level, where it continues to trade at a slightly lower price. As BTC price pumped, the price of pioneer altcoins Ethereum (ETH) pumped along with it, allowing altcoins to surge to a significant degree as well.
In detail, the price of ETH pumped alongside BTC to finally break past the $3,000 price barrier and is currently trading above the $3,100 price range. While ETH did not set a new ATH like BTC did, ETH is still outperforming BTC. Which means that if the price of ETH does go on to set new ATH prices, then the price of ETH is set to easily outperform the price of BTC this bull cycle.
As we can see from the posts above, the price of Ethereum (ETH) and its price chart is currently set up to be one of the best looking charts in the crypto space. The other post depicts how the ETH price charts seems to be following the path of Bitcoin from the last cycle. The analyst concludes that the ETH re-accumulation phase is behind us and that a V-shape recovery is unfolding as expected.
Based on the V-shape recovery highlighted in the chart above, the price of ETH could very well pump to the $8,000 price range, meaning that ETH could double its present ATH price target. Meanwhile, other price prediction forecast sets a bullish possibility fro ETH to set ATHs in the $10,000 to $12,000 this bull cycle .
Altcoins Set to Follow Ethereumβs Lead
The time for altcoins to finally explode this bull cycle nears. As the post above says, this is the first time in several years that ETH has been outperforming BTC. The last time this phenomenon occurred, the 2017 and 2021 altseasons began. The analyst concludes that exciting times lie ahead for altcoins, as many indicate bullish pump signals on their respective price charts.
