Altcoins
Ethereum and Solana Prices Rebound, Will Altcoins Gain Strength?
In an interesting move, The price of EthereumWe gained strength and surpassed $3,000 after struggling to reach these levels. This movement was also recorded in another popular altcoin, Solana, which is heading strongly towards $170. Growing optimism regarding ETH and SOL prices has once again fueled the altseason narrative. However, until Bitcoin forms a new ATH, altcoins may definitely not gain momentum.
When will BTC price reach new highs?
Bitcoin’s recent price action shows that the price could still trade under bearish influence regardless of the latest rise. However, the data from CryptocurrencyQuant suggests that Bitcoin could be in the middle of the current uptrend.
Bitcoin’s market capitalization is growing faster than its realized cap, a trend that typically lasts for about two years. Therefore, if this trend continues, the bull cycle is expected to end its bull cycle by April 2025. Bitcoin Price is currently showing bullish signs with the Price Momentum Oscillator after testing its previous resistance at $64,600 and confirming it as support. If the trend continues, the next breakout could be at the $67,000 resistance, which could trigger a rise above $73,000.
With this move, altcoins in the market could show considerable strength, with the ETH price advancing towards $4,000 and the SOL price towards $250. Once these popular tokens surpass the previous ATH at around $4,800 and $260, the altseason can officially begin. Until then, the prices of all popular tokens may maintain upward consolidation, defending the lower support.