ETH Above $2K: Fed Stays Put, Altcoin Season Watch Begins

• Ethereum got a boost of roughly 6% early on 
• The cryptocurrency is now past $2,000 mark
• Crypto enthusiasts and traders hope this might be a sign of an altcoin season

Ethereum (ETH) has experienced a notable surge, climbing roughly 6% in an hour and surpassing and breaking the $2,000 mark.

The main question now is if it can keep the trajectory, or at the very least, stay above the $2k mark. This is important because Ethereum’s performance is often seen as a possible sign of an upcoming altcoin season, where cryptocurrencies other than Bitcoin experience substantial gains.

This surge happens while there’s ongoing talk about Bitcoin’s market dominance potentially weakening, which might suggest investors are shifting some interest to altcoins like Ethereum. However, it’s still early to draw firm conclusions, as Bitcoin remains the dominant cryptocurrency.

That being said, if ETH can sustain levels above $2,000, it will be a good way to pave for further gains, somewhere in the $2,100 to $2,200 range. Conversely, failing to maintain this could lead to a retracement to lower support levels. 

Generally speaking, the cryptocurrency market has been on a positi…

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