News/Cointelegraph/Ethereum’s Potential 55% Upsurge vs Bitcoin Ignites Anticipation for the Next ‘Altseason’
Ethereum’s native token, Ether (ETHUSD), exhibits promising bullish trends against Bitcoin (BTCUSD), sparking anticipation for the ensuing altcoin season. Analysts identify two classic bullish formations, namely the cup-and-handle and the bull flag patterns, suggesting a potential upswing of 30-55%.
The Ethereum-to-Bitcoin ratio (ETH/BTC) is exhibiting both a cup-and-handle and a bull pennant formation, each hinting at significant gains. In the cup-and-handle scenario, a potential breakout above the 0.02596 BTC neckline is projected, with a technical target of approximately 0.03814 BTC, indicating a promising 55% upside by July.
The 0.03814 BTC level coincides with the December 2024 resistance level. Meanwhile, the bull flag pattern hints at a potential breakout towards 0.03235 BTC, a 30% boost above the current levels, by July. The upside aligns with the January-February 2025 levels.
A breakout in ETH/BTC could be the catalyst for the 2025 altseason, as per analyst Trader Tardigrade’s prediction. This speculation is based on historical periods when Ethereum’s stellar performance against Bitcoin was accompanied by substantial surges in the altcoin market.
Additional analysts, including Sensei, support the altseason theory, illustrating the altcoin market cap in relation to Bitcoin retesting a long-term ascending support trendline. Historically, bounces from this level have preceded significant altcoin rallies. Anticipation is high for a potential 250,000% altcoin rally based on a recurring historical pattern of altseasons, as per Analyst Rinor’s projection.
Analyst Moustache also points out that altcoins are breaking free from a seven-year falling wedge, a pattern that has historically signaled major rallies. This could be an indication that another altseason is on the horizon.
Investors and traders are advised to conduct their own research as all investment and trading decisions carry a degree of risk.
