Ethereum Shows Potential for New Highs Amid Altcoin Rally as Bitcoin Momentum Slows
Main Idea
Ethereum, XRP, and Dogecoin are leading an altcoin rally with strong performance and institutional backing, supported by bullish technical indicators and regulatory advancements.
Key Points
1. Ethereum surged 25.7% in a week, peaking near $3,843, with spot ETH ETFs attracting $2.2 billion in weekly inflows. Technical indicators like RSI (70) and ADX (25) suggest strong buying momentum and a sustained trend.
2. XRP climbed 20.9% in a week to $3.52, surpassing its previous all-time high. Its weekly RSI (71) indicates overbought conditions, but moving averages show bullish accumulation by long-term holders.
3. Dogecoin surged 33.5% in a week to $0.274, supported by a $500 million treasury initiative from Bit Origin. Technical indicators like RSI (61) and ADX (16) suggest healthy buying pressure and a nascent trend.
4. Prediction markets show a 40% chance of Ethereum surpassing $4,000 by late July and a 63% probability of reaching new all-time highs above $4,891 by year-end.
5. Regulatory advancements, such as the GENIUS Act, are enhancing market confidence and providing clearer frameworks for altcoins.
Description
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