Is the golden age of Ethereum about to begin? Solana is plummeting, and Bitcoin's fate is at a crossroads.
Ethereum has shown strength against Bitcoin, recording a 46% surge over the past 30 days. The ETH/BTC pair has risen by over 30% during the same period, indicating a movement of funds from Bitcoin to Ethereum.
Ethereum has been maintaining a stable trend around the $2,600 level since early May. It is raising its peak within the rising channel and forming a solid support line. This is interpreted as a healthy upward trend based on real demand, not speculative buying.
In the ETH/BTC pair, Ethereum has broken through major resistance lines and is testing the upper limit of the weekly chart. This is seen as a potential signal of Ethereum's 'golden bull market'.
In contrast, Solana is facing a technical cliff. It has collapsed below the 50-day and 100-day moving averages, falling to the $152 level. This suggests a potential additional 35% drop to the $100 level.
With increased trading volume and a declining RSI, there are concerns that this could lead to a medium to long-term downward trend rather than a short-term correction. The analysis suggests that fatigue is accumulating in the altcoin market as funds accelerate their movement to Ethereum and Bitcoin.
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