ETH Could Lead the Next Bull Run, If It Passes This Test
- Ethereum must break $4,000 soon or risk deeper price correction.
- Bitcoin dominance is rising, sending pressure across the altcoin market.
- Analyst says August could define Ethereum’s path for the year.
The crypto market is sending mixed signals. Despite earlier hopes for an altcoin season, Bitcoin dominance in this cycle is rising, which usually means trouble for small-cap altcoins. While a few altcoins might do well, the overall altcoin market has shown signs of weakness.
So while broader altcoins face pressure from BTC’s dominance, altcoin leader Ethereum still has a shot to flip the script.
Related: Bitcoin Dominance Hits 3-Year High But Faces Historical August-September Slump
Ethereum’s Make-or-Break Test in August
Analyst Benjamin Cowen said that August will be a decisive month for Ethereum. If Ethereum can break above $4,000 soon, it could trigger a strong rally by the end of the year.
If it fails to clear that resistance, however, Cowen suggests the price could enter a “slow grind,” likely finding support and forming a higher low in September before its next major attempt upward.
Cowen remains confident tha…
The post ETH Could Lead the Next Bull Run, If It Passes This Test appeared first on Coin Edition.
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ETH Could Lead the Next Bull Run, If It Passes This Test
- Ethereum must break $4,000 soon or risk deeper price correction.
- Bitcoin dominance is rising, sending pressure across the altcoin market.
- Analyst says August could define Ethereum’s path for the year.
The crypto market is sending mixed signals. Despite earlier hopes for an altcoin season, Bitcoin dominance in this cycle is rising, which usually means trouble for small-cap altcoins. While a few altcoins might do well, the overall altcoin market has shown signs of weakness.
So while broader altcoins face pressure from BTC’s dominance, altcoin leader Ethereum still has a shot to flip the script.
Related: Bitcoin Dominance Hits 3-Year High But Faces Historical August-September Slump
Ethereum’s Make-or-Break Test in August
Analyst Benjamin Cowen said that August will be a decisive month for Ethereum. If Ethereum can break above $4,000 soon, it could trigger a strong rally by the end of the year.
If it fails to clear that resistance, however, Cowen suggests the price could enter a “slow grind,” likely finding support and forming a higher low in September before its next major attempt upward.
Cowen remains confident tha…
The post ETH Could Lead the Next Bull Run, If It Passes This Test appeared first on Coin Edition.
Read More