Most altcoins, especially large market-cap Layer 2 tokens, surged strongly this week, signaling the start of the second phase of the bull run. Are you ready for phase 3, which is usually the biggest? Let’s go over the possibilities together.
7 Days Heatmap
The 7-day crypto heatmap clearly shows money flowing from ETH to altcoins, a typical phase after ETH reached a new all-time high last month.
BTC Analysis
According to our latest BTC analysis, it remains strong, trading within the rising channel marked in blue.
As long as the channel holds, further upside is expected toward the upper bound of the daily channel at $125,000.
Meanwhile, from a short-term perspective, as BTC retests the lower bound of the rising blue channel, we’ll be looking for trend-following long setups.
ETH Analysis
As per our latest ETH update, it rejected the lower bound of its range at $4,000 and has been gaining strength since.
This week, ETH is approaching the upper bound of the range around $5,000, so a short-term bearish correction is expected.
As long as ETH is hovering within the $4,000–$5,500 range, we’ll be trading the range until it breaks either upward or downward.
Quote of the week
Remember that the stock market is a manic depressive.
~ Warren Buffet
Closing Remarks
In summary, altcoins are gaining momentum as capital flows from ETH following its recent all-time high.
BTC remains strong within its rising channel, eyeing $125,000 if support holds, while ETH continues to trade inside the $4,000–$5,500 range, with a potential short-term correction near $5,000.
Overall, the market is entering a key phase that could set the stage for the next major bullish impulse.
