All eyes are on Ethereum at this level: Altcoin bull is expected!

What is the latest situation for Ethereum (ETH), which is gaining momentum as Bitcoin (BTC) turns its direction upward?

Bitcoin (BTC), which had a weekly close above $65,000, directly affected the altcoin market. Altcoins, which could not determine their direction for a few days, gained value with this move of BTC. Especially the fact that Ethereum (ETH) bounced from a critical support area and started to rise made altcoin investors happy. So what levels should be watched in ETH for the altcoin bull?

What prices should altcoin investors watch for Ethereum?

Ethereum (ET****H), the leader of the altcoins, experienced intense selling pressure after exceeding $ 4000. ETH, which approached $ 3000 in a short time, naturally shook the altcoins. When we look at the current situation, ETH, which gave the green light to the market, left behind a significant resistance and gave hope for altcoins.

Ethereum, which is traded at $ 3454 as of the writing of the news, must overcome the next resistance levels one by one in order for the rise in altcoins to continue. The increasing intensity of the ETH spot ETF agenda may positively affect the ETH price. In such a scenario, ETH could move towards $3640 – $3970 and $4373 respectively. Otherwise, there may be declines towards 3000 - 2720 and 2545 dollars, respectively.

The altcoin bull run that crypto investors have been eagerly awaiting for a long time can be expected if ETH makes ATH. If Ethereum, which continues to lose value compared to Bitcoin, takes over, we may witness major increases in altcoins. In this process, BTC's price movements and ETH spot ETF agenda will be decisive.