Ethereum (ETH) broke a critical price point against Bitcoin (BTC). Today’s movement indicates that altcoins may be about to see big gains.
Ethereum also registers significant gains against Bitcoin
Data from Cointelegraph Markets, Coin360 and TradingView showed that ETH / BTC crossed the baseline 0.026 in just one-day candle on January 3.
After being weak during the month of December, Ethereum recovered in the first few days of 2021. Sunday’s performance could be the start of something much bigger.
As Cointelegraph Markets analyst Michaël van de Poppe noted last week, 0.026 BTC is a key breakthrough. The transformation of this point into support can show the “strength and continuation” of the resurrection of the ascension.
Which altcoins are walking to the top?
Poppe told Twitter followers on Sunday, “It’s time to break all-time highs of Ethereum, Polkadot, Cardano, Chainlink and more.” said.
Currently ETH / USD is approaching landmark price levels and is targeting $ 1,000 behind the 21% daily gain. The last four figures for the pair were traded in January 2018.
“ETH has been the best performing asset of 2020 (with an increase of 450%) and is still below its all-time high,” said Cameron Winklevoss, co-founder and entrepreneur of the Gemini exchange. said.
Altcoin season may have begun
The top ten altcoins are showing signs of life against Bitcoin in hopes of altcoin season.
Litecoin (LTC) rose 18% compared to the largest cryptocurrency, while Bitcoin Cash (BCH) climbed 13.3% and Cardano (ADA) climbed 9.7%.
Even XRP, struggling with the lawsuit against Ripple, is recovering with a daily progress of 3.5% against BTC. Bitcoin’s overall market dominance remains above 70%.