Ethereum experienced a 2% correction in the past 24 hours, while some altcoins like Solana and Cardano saw losses of up to 5%. Despite this, experts remain optimistic about Ethereum's future.
Technical analysis suggests a potential breakthrough for Ethereum, with analysts predicting price targets of $7,400, $10,000, and even $14,000. The $4,000 mark is considered a crucial resistance level, and breaking through it could pave the way for a significant rally.
Institutional interest in Ethereum is also growing, with BlackRock investing millions in ETH and Ether ETFs reaching new highs. This high investment activity from major market players indicates confidence in Ethereum's long-term development.
While Bitcoin's market dominance has been over 61%, leading to short-term weakness in altcoins, Ethereum could emerge as a major beneficiary of a potential altcoin season.