Ether (Eth) recovers from all -time low: dominance increases again
The Ethereum course has risen again after weeks of doldrums and has let the market share of Ethereum grow again after a record low.
Ether (ETH) has increased by almost 15 % in the last 24 hours and exceeded the $ 1,800 mark on April 23. He exceeded Bitcoin, which increased by 6 %, and the cryptoma market, which increased by almost 5 % and a total market value of $ 3 trillion.
Since the break-in on April 9 at $ 1,400, Ether has now recovered by almost 30 %, which has caused some analysts to assume that the worst for the Second largest cryptocurrency in the world could be over.
“You can hate Ethereum as much as you want, but if he has a big day, the entire crypto ecosystem”, ” commented The crypto dealer and analyst “Income Sharks” on X.
The market analyst “Ash Crypto” said ETH is “shortly before an explosion” and compared Ether's current chart pattern to Bitcoin's performance at the end of 2024.
Jeff Mei, Chief Operating Officer at the BTTSE crypto tour, Ethereum moved independently, and told CoinTelegraph that the increase in ether “is largely due to the price of Bitcoin and the overall market”, and that Confirmation by Paul Atkins as chairman of the US stock exchange supervisory authority has improved the general market mood.
At the beginning of this month ETH was on one Bear market price fell back and had a shrinking market share in a market depastry that was characterized by the fear of a trade war.
Am 22. April said The analyst “Rekt Capital” that ETH's market dominance has fallen back to an all -time low, but “managed to keep the 2019 all -time lows.”
The ETH dominance fell Sea TradingView on April 22nd on your low of September 2019 of 7 %. However, the subsequent increase in the price led to the dominance recovered from this important level of support and increased over 7.5 % again on April 23.
Fundamental catalysts who support this development
Markus Thielen from 10x Research told CoinTelegraph that it didn't need much to drive up Ethereum, since the “strongly heard market is now experiencing a squeeze”.
Technically speaking, Ethereum is oversold on both the daily and the weekly chart, which creates the prerequisites for recreation, he said.
“With the upcoming switch to the Mainnet, there is also a fundamental catalyst that supports this step.”
