- Pioneer altcoin ETH prints full blown breakout above key bear market zone.
- Having broken past this absolute key bear market resistance zone, bullish moves to arrive.
- The bear market may finally be over as ETH looks towards bullish days ahead.
The crypto community is pleased to see the prices of promising crypto assets surge at a butting pace over the last 24 hours. In detail, the price of BTC surged from the $65,000 price range to the 70,000 price range reclaiming a heavily bullish target. Similarly, the price of ETH pumped from $1,900 to $2,200, leading to other altcoins to surge as well. Specifically, ETH prints full blown breakout above an absolute key bear market resistance zone.
ETH Prints Full Blown Breakout Above Key Bear Market Zone
According to CoinMarketCap analytics, the price of Bitcoin surged by 10% in the last 24 hours, bringing the asset towards reclaiming the bullish $70,000 price range. Similarly, the price of ETH surged by a whooping 17.50% bringing the asset to an almost 20% price pump in under 24 hours. A truly spectacular move to see not only Bitcoin rally, but ETH and altcoins as well.
So far, several analysts have been waiting patiently for a definitive breakout in the price of Ethereum (ETH), a move that can determine the possibility of the long-awaited altseason to finally come into play. After all, historical data shows that usually altcoin prices run alongside ETH, and its failure to surge last year led to the fall of altcoins for the previous bull cycle. Could this surge finally play out now?
Has the Bull Market Phase Already Begun?
As we can see from the post above, the analyst known for his many accurate predictions so far highlights how ETH has printed a full blown breakout above an absolute key bear market resistance zone. This is a critical moment for the price of ETH as it is for the first time since the start of the bear market that ETH reclaimed the Golden Line. The analyst says to take a moment of silence for bears, meaning bullish days lie ahead for ETH.
The same analyst has already assigned 60% of his portfolio to ETH leaving only 40% of his portfolio to BTC, this marks an opposite of his holdings over the previous few cycles. The move shows his complete faith in the actions of ETH this year, as he is certain that ETH will finally outperform BTC this cycle. He also talks about the Galactic three tokens which includes Coinbase and Circle alongside ETH.
