I was surprised to see that today, ETH broke $200 price barrier, and a lot of altcoins in the top 10 are also making a good run, is this the bullish signal that we all have been waiting for the altcoin market?
Source: Binance
I didn't think when Ethereum hits 350 USD then again it can dump to 120 USD. This week Ethereum hits top price 230 USD. When Ethereum did a bullrun, Bitcoin was in sleep. This makes sense us to altcoins season, if Ethereum publish 2.0 news, bullrun could start of altcoins. This year is for break the top price of top coin.Source: Binance
I think $230 will be the next key resistance level. If we reach and broke this price and sustain it, then we might be heading for $250. But if didn't hold, obviously we might see some corrections but I don't see it dumping to $120.
There will be support at $200 levels here, cryptocurrency market today is at the bullish phase, we might see some healthy corrections, and then it will be pump again. I would agree if we're in the bearish sentiments that we might see some huge dump, but at this point, investors are very positive of the market now.
That key resistance is already broken, $230 - $250 so I think next will be the eventual $300. If bitcoins goes for $11k this month, I have no doubt that $300 will be breach by Ethereum.
And the timing itself, just a couple of months prior to the halving that might have a significant effect, barring all negativity, I have a feeling that $300 is doable at the end of the month.