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The altcoin king surpassed $4,000 and reached a nine-month peak at the time of writing. This is extremely significant for altcoin traders. After a long period of sluggish movement, Ethereum (ETH) 
$2,435 is now gaining momentum following the recent BTC price plunge.
Ethereum (ETH) Gains Traction
ETH has not faced massive losses after the recent BTC downturn, enabling it to chase new highs. The price has reached $4,026, marking its highest level since March. Moreover, this surge indicates a potential overall recovery for altcoins.
ETH’s Performance Against BTC
After BTC and many cryptocurrencies hit all-time highs, ETH has lagged significantly. ETH needs to break the $5,000 barrier quickly to support a weakening BTC and trigger the anticipated rally for altcoins.
The ETHBTC pair shows that maintaining a dip around 0.032 BTC was expected, and that has occurred. However, a breakout is just beginning. If we continue to see closures above the 0.04 BTC level, we could test the range of 0.0460 to 0.0518, indicating a return to bullish trends for ETH against BTC.
In a previous assessment, it was mentioned that some experts believe PEPE Coin could react quickly in the event of a potential ETH surge.
PEPE Coin has experienced a 6% increase in the last three hours. While a striking peak is yet to be noted, the view that it will benefit from ETH’s rise has been confirmed.
