- ETH currency cycle perfectly mimics Bitcoin during its last cycle.
- The priec of Ethereum could hit a new ATh of $10,000 this bull cyle.
- Analyst expects an explosive altseason to commence soon.
Though Bitcoin (BTC) seems sluggish now, analysts remain optimistic about the asset’s bullish months ahead. While Bitcoin takes its time to cool down before what could be an explosive pump, seasoned analysts are taking this time to keep a close eye on the pioneer altcoin asset Ethereum (ETH).
As the first altcoin to make its debut, every bull cycle’s altseason has usually begun with ETH setting a new ATH. This cycle’s peak altseason phase is yet to arrive based on this historical fact. Indeed, ETH has yet to set a new ATH this bull cycle, however, bullish indicators have begun to color the altcoin price chart.
Altseason explosion on the Horizon
As we can see from the post above, analysts believe altcoins are ready to explode. Besides the fact that it has already printed the golden cross pattern, altcoins have kept their 7-year trendline intact, and its 4-year resistance seems to be on the verge of a breakout. Thus, the analyst concludes that the market structure is primed for a mega move. This means that it is only a matter of time before the peak of the altseason begins.
ETH Current Cycle Mimics Bitcoin
In particular, for ETH price, the analysts in the post above mark how ETH in its current cycle is perfectly mimicking Bitcoin from its last cycle completing a multi-year accumulation phase. Also, ETH seems to have completed a re-accumulation and manipulation phase and as BTC did, it will set its next ATH likely at $10,000 very soon.
