Ethereum Up 3%: Can It Outperform Bitcoin From Here On?
Ethereum (CRYPTO: ETH) appears to be gaining momentum against Bitcoin (CRYPTO: BTC) for the first time in over a year and traders are watching closely.
A breakout could mark the start of a broad altcoin resurgence, provided Bitcoin continues its upward trend.
What Happened: Crypto analyst Kevin shared extensive analysis in his exclusive Patreon, saying that Ethereum is showing strong signs of a long-term trend reversal.
After consolidating for nearly three years, multiple technical indicators are aligning for a breakout:
- April’s "massive demand candle" and May's 41% gain underscore growing buyer interest.
- ETH is holding firm at its monthly super trend support.
- A pending V-shaped cross on the Stochastic RSI and a coiling MACD (in formation since 2020) suggest rising momentum.
- ETH's RSI remains below 70, leaving room for a potential parabolic move.
Kevin also points to ETH dominance bouncing from historical levels that triggered previous outperformance (notably 2019–2020), and for the first time in over a year, ETH/BTC momentum has turned positive.
"It's a monthly setup, this will take time," Kevin noted, emphasizing that Ethereum's success still hinges on Bitcoin's strength and macro tailwinds.
While ‘Dogecoin Millionaire’ Glauber Contessoto declared it's "Ethereum's time to moon", trader Altcoin Sherpa remains cautious.
He sees ETH reaching $4,000 but doesn't consider that move impressive and says ETH/BTC still looks weak.
"The real ETH season hasn't arrived yet. I'd rather buy confirmed strength than gamble early."
Trader Jelle believes ETH is approaching a critical resistance zone, noting that clearing $3,000 is the "last hurdle" before altcoin season ignites.
Why It Matters: IntoTheBlock data shows Ethereum's large transaction volume expanding by 127.8% to $6.95 billion.
Exchanges netflows surged by 4,563.6% in a single day.
Transactions greater than $100,000 jumped from 3,382 to 5,578. Around 60% ETH holders are in profit.
Coinglass data shows Ethereum's derivatives trading volume up by 16% in a single day, while open interest spiked by 3.2%. Options volume was up by 42.6%.
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