Ethereum Approaches Key Breakout as Altcoins Await Major Rally

•   Ethereum nears breakout as it reclaims a key 3-year trendline, signaling potential momentum for a strong rally. 
• Altcoins are set for growth as market structure mirrors past cycles, hinting at a parabolic move after prolonged accumulation. 
• Institutional interest rises with big players like BlackRock and Fidelity accumulating, reinforcing a bullish macro outlook. 

Ethereum is showing signs of a bullish breakout. According to el_crypto_prof, Ethereum is reclaiming a trendline that has held strong for three years. This trendline forms the foundation of an ascending triangle , a historically bullish pattern. If Ethereum maintains this structure, it could trigger a breakout and drive a new wave of momentum.

Ethereum’s Market Structure Strengthens

Ethereum has maintained an ascending support line despite past price rejections at key resistance levels. The price action indicates persistent buying pressure, keeping the long-term trend intact. Historical price behavior reinforces the likelihood of an imminent bullish breakout. Higher lows suggest accumulation, while a clear resistance level remains in place. Once Ethereum surpasses this resistance, a strong price rally is expected.

The recent dip to $2.1K was a shock to many traders. However, institutional investors, including BlackRock and Fidelity, appear to be accumulating Ethereum. Smart money is positioning itself ahead of a potential altcoin season. Despite market manipulation attempts, Ethereum’s prolonged consolidation suggests a bigger move is on the horizon.

Altcoin Market Poised for Explosive Growth

ParabolicPump highlights that the total altcoin market remains 50% below its 2021 peak. Altcoins are still far from their true cycle top . The market structure follows a long-term ascending channel, with price action respecting both support and resistance levels. Historically, long accumulation periods lead to stronger rallies.

The current cycle mirrors previous accumulation phases seen in 2018-2020 and 2022-2023. After each phase, the market witnessed parabolic growth. Given that the total altcoin market cap is positioned near the lower trendline, an upward move is expected soon.

Investors should take note of the bullish macro environment. The divergence between positive news and short-term price action indicates market makers are shaking out weak hands. Once Ethereum surpasses the key $4K resistance, altcoins will likely see massive inflows.