Bitcoin is on the run to new highs, and there’s increasing activity in altcoins. What’s the current situation for Ethereum, Shiba, and AVAX? After a long wait, the cumulative value of cryptocurrencies has once again exceeded $2.1 trillion. Altcoin investors are hoping for even greater gains in the coming days if BTC consolidates at higher levels.
Ethereum (ETH)
Weekly charts suggest that closing above $3,200 could open the door to new highs for ETH prices. If it can hold strong in this area, we may witness a rally up to $3,577. Once the price breaks above this level, it will definitely start its journey to all-time highs, and despite potential corrections, the goal will be higher peaks.
On the other hand, the resistance levels at $4,116 and $4,511 are still relevant. There’s a slight issue with the ETHBTC pair, as the price has fallen below the 0.058BTC resistance, suffering from Bitcoin‘s surge. For a true ETH bull run, gains against BTC need to continue above 0.061BTC and turn the area into support.
If successful, we could see an increase up to 0.085BTC, which would mean ETH reaching $4,560 even from its current price.
Shiba Coin Commentary
The second-largest altcoin by market value has gained double digits daily and continues to rise by 10.7% today. It has erased another zero and is attracting investors who don’t want to miss the uptrend. The waning excitement in SOL and other rapidly rising altcoins has created room for movement in altcoins that remained calm during the last rallies.
It’s important for the Shiba Coin price to close above $0.00001051 in the coming hours. If the area remains strong as support, it could target the $0.00001142 resistance within its current parallel channel. Closing above this will lead to new highs.
AVAX Coin Commentary
Although AVAX has seen higher peaks in recent days, it’s been quite quiet today. It hasn’t even managed to sustain above the $40 region yet. The well-known levels for Avalanche (AVAX) remain relevant. Closures above $40.8 could pave the way for a recovery up to the $44 region.
For now, AVAX seems to prefer staying behind, but as long as BTC lingers at its current level, there’s potential for a new attempt at $50.
