The cryptocurrency market appears to be at a significant juncture, with a noticeable shift in momentum between its two largest assets. Bitcoin price recently set another ATH (again), but there are indications it is slowing down. Conversely, Ethereum is increasingly exhibiting bullish indicators, positioning itself for a substantial price surge.

If Ethereum plays out and explodes, it will have a cascading effect on ERC20 tokens, specifically ENA and Remittix. Who will have a compounded effect of their positive outlook and the base layer Ethereum jump.

Cooling Bitcoin Worries Market

Several technical indicators are suggesting a deceleration in Bitcoin’s move. Although it made headlines again as it punched a new ATH, its MACD and ROC are pointing towards a downturn. Even the monthly RSI, though higher than expected, is still in neutral territory. The US BTCETFs also mirror the sentiment, with $268 million in outflow.

Bitcoin price cooling off after hitting $112K ATH. Graph source: CoinMarketCap

Some suggest BTC is just doing a normal retraction, while other analysts see BTC in a Tariff Trap. Coupling this with risks of higher inflation on the horizon, if the Bitcoin price doesn’t shake out of the cooling period soon, it can test the $100,000 floor and in a worse situation, go well below it.

Ethereum’s Ascending Technicals and Ecosystem Boost

While the bull run had many traders disappointed with Ethereum’s performance, this finally seems to be changing. 20, 50 and 100 EMAs are all pointing towards a buying opportunity, supported by its 12 and 26 MACD.

ETH price movement for 30 days. Source: CoinMarketCap

This technical narrative is further supported by ETF firms, where BlackRock and Fidelity dumped $180 million worth of BTC as it bled, and bought $78 million of ETH instead. EthereumCo-founder Buterin’s privacy advocacy on the Ethereum chain can a

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Author: Crypto Daily