Ethereum's performance has begun to outperform Bitcoin for the first time in months. According to Cryptonews, Ethereum traded around $1,907 at the beginning of March, marking its lowest level, before rising to approximately $2,386 in the middle of March. This movement was largely driven by policy developments in Washington as well as statements made by the President of America, Donald Trump. During the same period, Bitcoin also experienced similar volatility, moving between $65,000 and $76,000.
The performance of Ethereum has improved and begun to outperform against Bitcoin, which could be a signal of a shift of capital into altcoins and the early stages of the altcoin season.
Within the last 24 hours, Ethereum's price still reflect to the weak accumulation with no clear signs of high buying activity. Currently, Ethereum has to hold its value above $65,000 and $76,000. and break through $2,250, to reach its target of around $3,000 to $3,200 in the middle of the year. Conversely, if Ethereum experienced a decline in value and traded below $1,950, it would face another potential to reach its lowest value level.
Although Ethereum has started to outperform Bitcoin and makes a new potential of altcoin season, both of these cryptocurrencies continue to shows similar pattern as they remain in a consolidation phase. This reflects that the whole market is still waiting strong catalyst, because either Ethereum or Bitcoin value is still influenced by the investor's sentiment towards the global political situation.
According to Cryptonews, several institution shows their interest in Ethereum. This indicates that large capital inflows may begin to enter the crypto market, which potentially strengthens the momentum of a future altcoin season.
In conclusion, Ethereum still has its potential to increase its value even though it is in the same consolidation situation as Bitcoin, and the altcoin season could happen if Ethereum continues to experience its value increases.
