Ethereum Outperforms Bitcoin — Is Altseason Near?

Hello everyone,
how are you all? I hope evreyone is fine.

The current market situation is something that has given us a lot of relief compared to times we have experienced over the period of last 4 months. The Ethereum and even the alts are making some positive moves alongside bitcoin though this time we can clearly see that Eth is outperforming bitcoin which is something we have not seen for a good duration of time.

In the above screenshot we can clearly see that more money has flown into Ethereum compared to bitcoin as it has pumped almost 5 times than that of bitcoin. This is nothing new and every crypto cycle has this phase where bitcoin dominance is decreased and the Ethereum finally makes it's run which is then also followed by Alt coins.

Let us hope that we are going to witness the same pattern this time as well. For now I am going to shift the focus to bitcoin again as we are really on the verge of creating history. To understand this better we will look at the weekly chart of bitcoin where things are crystal clear for us.

In the screenshot above we can see that bitcoin is testing it's major resistance where we saw it making all time high near 110k USD. If we are able to break that resistance successfully then we will definitely send bitcoin to it's new ATH trajectory. There are other support and resistance as well but for now the one you see is the most important one.

Also side by side we have to keep an eye on the BTC dominance. It is also a major reason that is stopping ETH from making big moves. If ETH can pump by 30% in 24 hours when bitcoin dominance is at it's peak for this season. Think what will happen when the dominance comes down to even lower levels. Ethereum will explode and we will see new ATH in ETH.

What are your thoughts about the market? Share with me in the comments below.

Thank You