Recent technical analyses indicate the potential for Ethereum's price to surge to $10,000 over the coming months, which might also signal the start of altseason.
Price Prediction for Ethereum
Analyst Mikybull uses the Wyckoff method to assess Ethereum's potential price increase, believing it could reach around $3,200. He noted:
> 'Big rally incoming.'
Another analyst, XForceGlobal, has also expressed confidence that Ethereum could reach new all-time highs, pointing to positive signals from its recent increase to $2,800.
Signals for Altseason
The Altseason Index indicates that now is a good time to invest in lagging altcoins. Founder of Alphractal, Joao Wedson stated:
> 'The Altseason Index is flashing signs of opportunity.'
Wedson notes that historically, whenever the index rose above 20%, it led to a sharp increase in altcoins outperforming Bitcoin.
Bitcoin Dominance and Its Market Impact
Currently, Bitcoin dominance stands at 65.77%, indicating that it is still 'Bitcoin season'. Analyst Rekt Capital emphasizes that a dominance above 70% may indicate the beginning of a full-blown altseason. He added:
> 'Bitcoin dominance is likely to fall soon.'
In light of the current market conditions and analytical predictions, Ethereum shows potential for significant growth in the coming months, which could also signify the beginning of a new altseason.
