Altcoin Season Incoming? Ethereum’s 20% Breakout May Be the Spark

• Ethereum has surged 20% in 24 hours, reclaiming key EMAs and triggering renewed market excitement.
• Mixed on-chain signals point to short-term caution but long-term accumulation and bullish intent.
• The TOTAL2 chart shows bullish momentum but nears resistance and overbought territory.

Ethereum (ETH) has flipped the crypto market on its head with a sharp 20% surge in the past 24 hours, pushing the price to $2,323.54 and briefly touching a daily high of $2,486.01. Ethereum’s trading volume also exploded, up 150% to a massive $51.56 billion. 

ETH Reclaims Key Support Levels

As per CoinMarketCap data, ETH has convincingly reclaimed its 20-day EMA at $1,869 and is now hovering near the 50-day EMA at $1,883, both of which could act as strong support zones in the near term. 

This sudden bullishness has resulted in speculations of a broader altcoin sector rally.

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