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The ETH/BTC exchange rate is approaching a key resistance level! Ethereum price rebounds to $3700, is the alt season signal emerging?
Ethereum (ETH) price has strongly rebounded above $3700, while Bitcoin (BTC) price continues to hover around $114,000. The market focus has shifted to the ETH/BTC Exchange Rate, which is currently reported at 0.03059, nearing the key technical resistance level of the near-year bottom range. Analysts point out that if ETH/BTC can effectively break through the current resistance (including the 0.382 Fibonacci Retracement level), along with a continuous decline in BTC Dominance (BTC.D), it may signal the true onset of alt season. This article combines technical analysis and market sentiment to explore the potential breakout path and price targets for ETH.
▶ ETH/BTC exchange rate hits bottom and rebounds, technical analysis shows bullish signals
▶ Bitcoin Dominance (BTC.D) is a key variable that affects the lifeblood of alt season
▶ Ethereum Price Outlook: Optimistic Predictions Coexist with Market Realities
▶ Current Status and Breakthrough Path
Conclusion: Technical Analysis and Market Sentiment Resonance, ETH Welcomes a Key Window Period
Ethereum is attracting market attention with a strong rebound in price and a bottoming recovery of the ETH/BTC exchange rate. Technical analysis shows that its exchange rate is on the edge of a potential reversal, while signs of loosening Bitcoin dominance inject hope into the altcoin market. However, the 62% BTC.D level remains a sword of Damocles, and its breakout direction will greatly influence capital rotation. Whether ETH can seize the current opportunity of technical and liquidity shifts, successfully break through key resistance, and open up upward space will become an important barometer for observing whether the crypto market rotation and alt season are approaching. Investors need to closely watch for breakout signals in the ETH/BTC exchange rate and the subsequent trends of BTC.D.
Analyst Opinion: The ETH/BTC exchange rate is approaching a key resistance level, and the technical structure is bullish. If the dominance of BTC continues to weaken, it may trigger an altcoin market. In the short term, focus on the 0.382 Fibonacci level for support and resistance, while the mid-term target looks towards the 5700-16000 USD range, but be wary of the risk of a BTC.D rebound.