Ethereum has demonstrated significant bullish momentum following recent Federal Open Market Committee (FOMC) announcements, with its price surging 40-50% as it shattered key resistance levels and solidified crucial support zones.
The rally coincided with a notable 3% increase in Ethereum’s market dominance (ETH.D), while Bitcoin’s dominance (BTC.D) remained static at 60%. This divergence suggests capital rotation from Bitcoin into Ethereum may be underway.
Whale accumulation patterns bolster this trend, with large holders collectively acquiring 73,821 ETH in recent trading. The ETH/BTC trading pair further confirms the shift after decisively breaking the significant 0.03 resistance threshold.
Currently consolidating beneath the $3,900 barrier, Ethereum shows strong technical potential for an upside breakout. Analysts indicate that continuation of these trends could propel ETH past the psychologically important $4,000 milestone in the near term.