Ethereum ($ETH) is preparing for a notable price upsurge amid the broader shift in the crypto bull market. After Bitcoin’s ($BTC) spike to the new all-time high (ATH) of $125,449, Ethereum ($ETH) is getting ready to outcompete it, while the bull market is entering next phase. As per the data from Michaël van de Poppe, a popular crypto analyst, the transition in the ongoing crypto bull run is leading toward Ethereum’s ($ETH) potential breakout. Hence, the leading altcoin could soon challenge its former ATH in another leg up.
Ethereum Surpasses Key Resistance Levels Signaling Potential Breakout
The on-chain data points toward the bullish outlook of Ethereum ($ETH) following Bitcoin’s ($BTC) jump to its new ATH of nearly $125,559. In this respect, the $ETH-$USD pair indicates a crucial technical development. Particularly, $ETH has surged above several lower high price levels that formerly led to its downtrend. Thus, surpassing these resistance levels has placed $ETH into a breakout zone.
Preparing for Eclipsing Leading Cryptocurrency as Bull Market Heads to Next Phase
According to Michaël van de Poppe, the wider market sentiment is favoring Ethereum ($ETH) after Bitcoin’s ($BTC) pump to $125,559. Therefore, based on the historical statistics, where $BTC’s bull market leads toward $ETH’s leg up, Ethereum is getting ready to outperform the flagship cryptocurrency. Overall, in line with the supporting technical indicators, if the current momentum holds, $ETH could outpace $BTC in the 2nd phase of this bull market.
