Although there are signs of overcompra and possible corrections, the bullish trend follows.
Capital is currently rotating from Bitcoin to Ether.
Ethher (ETH), Cryptomoned of Ethereum, is consolidated as the protagonist after a rebound that captures the attention of investors and analysts.
From its minimum of $ 2,174 on June 21, The cryptocurrency has climbed almost 50%, challenging expectations and marking a turning point In the ETH/BTC relationship.
This movement, backed by a capital flow that migrates from Bitcoin, suggests that the Altcoins market could be entering a new phase.
The ETH/BTC ratio, a critical indicator to measure the appetite by Altcoins, exceeded the ceiling of 2.64%yesterday.
This level, which had contained the Altcoins since the beginning of the war between Israel and Iran, points out a change in demand, according to analyst Elior Manier.
“The relationship has just overcome its rank,” said Manier, highlighting Ether’s bullish potential. The objectives projected for this ratio range between 2.90% and 3.1%, which could boost ETH Si Bitcoin stabilizes at its current levels.
A market in transition
Capital flow from Bitcoin to Ether Mark the start of phase 2 of the rotation cycleas reported by cryptootics.
Historically, this stage precedes an “Altseason”, where Altcoins gain ground after Bitcoin stabilization. Since October 2024, when BTC began its rise to $ 100,000, Bitcoin’s domain in market capitalization had been overwhelming.
However, the recent rotation suggests that Investors are looking for greater returns in ETHthe most valuable digital asset in the market after Bitcoin.
Technical levels in the sights
In the weekly temporal framework, Ether has operated within a range of three years, but Bitcoin’s recent rebound and the growing adoption of cryptocurrencies open the door to new maximums, Manier details.
Fibonacci extensions, a tool that projects price levels based on mathematical proportions, indicate that a breakdown of December 2024 could take ETH to levels between 4,915 and $ 5.250 (127.8% to 138.2% of Fibonacci), with a more ambitious objective of $ 5,970 (161.8%).
Despite the enthusiasm, the relative force index (RSI), which measures the speed and magnitude of price movements, shows that Ether is at overcompra levels. This could trigger a correction, although Manier warns: “The upward movement can continue before stagnating.”
Buyers now face a key resistance in $ 3,250, which must be consolidated as support to maintain the impulse.
However, Manier underlines market unpredictability, since anything can happen; The markets are volatile and only indicates probable scenarios.
The CEO of gravel, Exchange of cryptocurrency born in Argentina, also pronounced optimistically over ETH. For Sebastián Serrano, ETH has had a great first semester of the year and could have a better second semester:
«These recent movements do more justice to a first half of the year with important novelties for Ethereum, beyond the delay in its price. After the upgrade pein, he showed important advances in scalability, reduced the rates and improved transactions efficiency. As a platform for decentralized applications and intelligent contracts, it remains the most used, with an important recovery in its volumes of use thanks to the new Boom of the Defi field, while institutional adoption continues to progress and financial products based on Ethereum, such as Futures and ETF to cash, are also gaining greater traction ».
Sebastian Serrano, CEO of gravel.
Horizon supply crisis
An additional factor drives the upward narrative. The Wintermute Training Platform at its OTC (Over-The-Countr, out-stock exchange) counter) He ran out of eth available, What points to a supply crisis.
This phenomenon, driven by large buyers and institutions, usually precedes sudden and bullish movements in the price.
For its part, the EMJ Capital investment firm projects an even more promising future. According to its model, the approval of the Staking in the ETFs of Ethereum by the SEC, expected before October, could transform ETH into a passive income asset.
This would promote its adoption in the traditional financial system, With pricing projections that reach 10,000 dollars on the base stage and up to $ 15,000 in an optimistic context.
Despite the upward signals, the road will not be exempt from volatility. The combination of technical indicators, capital rotation and regulatory developments position Ether at a key moment. While investors observe closely, the market prepares for what could be a new era for Altcoins.
