FameEX Hot Topics | ETH’s $3K Support May Launch 1,100% Vertical Surge, Says Analyst

Ether (ETH) has climbed back above the $3,000 mark for the first time since February 1, signaling renewed bullish sentiment and the potential for a substantial rally. While Bitcoin (BTC) slipped to $116,500 this week, Ether advanced to a weekly high of $3,090, outperforming BTC and highlighting growing investor confidence in ETH’s momentum.

A key driver behind this move appears to be capital rotation out of Bitcoin and into altcoins. Analytics firm Swissblock reports that Bitcoin’s last four bullish phases each lasted 15 to 30 days. With the current rally reaching day 12, some profit-taking may be underway, pushing capital toward alternative assets like Ether. This kind of rotation often precedes broader altcoin rallies, and ETH seems to be leading the charge.

This trend is especially evident in the ETH/BTC trading pair, which recently broke above a key structural resistance on the daily chart for the first time since May. Even more significantly, ETH/BTC has moved above its 200-day moving average—a level it hasn’t held in over a year. This development hints at strengthening ETH momentum relative to BTC, and could indicate a sustained uptrend.

Further technical confirmation comes from ETH advocate Ted Pillows, who noted that the ETH/BTC weekly Relative Strength Index (RSI) has finally broken out of a three-year downtrend. A golden cross formation—where the 50-day moving average crosses above the 200-day—is also forming, reinforcing the idea of a long-term bullish shift. Meanwhile, a decline in Bitcoin dominance suggests altcoins, led by Ether, may soon take center stage.

Adding to the optimism, analyst Merlijn The Trader shared a fractal analysis comparing Ether’s current price movement to Bitcoin’s 2018–2021 cycle. He projects a potential 1,110% rally from the April low of $1,550, which could send ETH as high as $18,205. While fractal models are speculative and lack peer-reviewed validation, they continue to fuel excitement among bullish ETH supporters who see historical patterns as signals of what’s to come.

Disclaimer: The information provided in this section is for reference only and does not represent any investment advice or the official views of FameEX.