Renowned crypto analyst Altcoin Sherpa predicts that Ethereum (
ETH
) is on track to achieve new all-time highs (ATHs).
Altcoin Sherpa, known for his insights in the crypto space, shares with his 216,900 followers on X that ETH is poised for a significant breakout against Bitcoin (ETH/
BTC
).
Despite this bullish outlook, Altcoin Sherpa cautions that the 200-week exponential moving average (EMA) is currently serving as a barrier for the ETH/BTC pair, suggesting the possibility of further downside before a breakout occurs.
In his analysis, Altcoin Sherpa notes, “ETH: ETH/BTC has been underperforming lately, and it’s intriguing to see the bearish trend of the 200-week exponential moving average (EMA) persist (the last time it was bearish like this was March 2021). It remains to be seen if the recent price action marks ‘the bottom.’ While ETH reaching ATH is inevitable, the current situation is concerning.”


Source: Altcoin Sherpa/X
At the time of writing, ETH/BTC is trading at 0.05384 BTC ($3,841), showing a nearly 1% increase in the past 24 hours. Ethereum previously hit an all-time high of approximately $4,900 in November 2021.
Additionally, Altcoin Sherpa predicts that Bitcoin Dominance (BTC.D), which measures the proportion of the total market cap represented by Bitcoin, will remain bullish until the fourth quarter of this year. Consequently, altcoins may lag behind BTC until that time.
Altcoin Sherpa advises, “It might be wise to accumulate altcoins until late Q4. It’s challenging to pinpoint the exact timing, but I anticipate that most alt/BTC pairs will continue to decline. However, once Q4 approaches, I expect BTC.D to decrease, leading to increased activity in the altcoin market.”


Source: Altcoin Sherpa/X
According to Altcoin Sherpa’s analysis, BTC.D is expected to peak at around 64%, which is approximately 10% higher than its current level.
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