The crypto market slowed down recently, but it's probably just a correction within an uptrend, especially if we consider a larger summer consolidation that can send Crypto market higher at the end of 2024. Well, ALTcoins are currently suffering more because Bitcoin keeps dominating, but we believe that BTC dominance might slow down and ALTcoin dominance kick in, especially if we take a look at the ETHBTC ratio chart which is telling us that ETH may start outperforming BTC soon.

ETHBTC chart can be still trading in a correction within uptrend. It’s right now approaching interesting and strong support area when looking at the monthly chart. We have strong monthly trendline and impulsive waves up, followed by a three-wave A-B-C correction into golden 61,8% Fibo retracement. If ETHBTC is really about to bounce and starts recovering soon, then ALTseason is still in the cards.

ETHBTC Monthly Chart

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