ETH/BTC Holds Key Support; Breakout Could Spark Capital Rotation to Altcoins

Ethereum is holding key support against Bitcoin and eyeing a critical breakout level on the ETH/BTC chart. Joe Lubin revealed talks with sovereign wealth funds and banks interested in ETH-based infrastructure. Technical indicators on the ETH/USDT chart suggest bullish continuation, with targets above $2,800 in sight. Ethereum (ETH) continues its quiet but steady upward movement, and crypto analyst Michaël van de Poppe is hinting that this could be due to rising accumulation. He also predicts that an “explosive altcoin season might be just around the corner.” Poppe: ETH/BTC Chart Shows Bullish Structure, Eyes Key Breakout Poppe shared a detailed analysis of the ETH/BTC daily chart which revealed that the pair recently held support around the 0.023-0.024 BTC region, a level previously identified as a must-hold zone. The pair is now consolidating just under the 0.02884 BTC resistance, an area that previously acted as a strong supply zone during multiple rejection phases earlier this year. Notably, the current price action is forming a bullish structure : a higher low after a breakout above a long-standing descending channel. This suggests that Ethereum… The post ETH/BTC Holds Key Support; Breakout Could Spark Capital Rotation to Altcoins appeared first on Coin Edition .

Source: Coin Edition