Ethereum Breaks Out, Setting the Stage for a Strong Altcoin Season

Ethereum is on the verge of a significant move, with the ETH/BTC pair nearing a breakout from its symmetrical triangle pattern. This bullish trend comes as Ethereum outperforms Bitcoin, signaling an exciting altcoin season ahead. analysts are attributing this to expanding DeFi applications and increasing institutional investments. The market’s optimism is reflected in ETH’s performance, which has recently traded above its 50-day moving average while remaining below the 200-day level. This phase suggests a transition period with bullish pressure building. Weakening Bitcoin dominance and the potential for BTC to dip below $100k could ignite an altcoin breakout.