Warning to altcoin investors: Ethereum is on edge!

Bitcoin's (BTC) monthly opening at an unexpected level brought back-to-back sales in Ethereum (ETH).

BTC, which had a weak start to April, directly affected the ETH price. ETH, which has gained value by separating from BTC for a while, created a spring atmosphere in altcoins. However, the step by step approach to BTC halving upset the balance. Since there are only 20 days left until the halving, price movements in BTC have become a more critical factor. What is the latest situation for ETH, the leader of the altcoins that was highly affected by the recent decline of BTC?

Ethereum (ETH) will determine the fate of altcoins!

With very little time left until the Bitcoin halving, Ethereum has been overshadowed. ETH, which could not stand out even with spot ETF developments, naturally suppressed altcoins. Ethereum, which fell to $ 3536 with the relaxation in BTC, is pricing in a critical region. In order for us to see a rising season in altcoins, ETH must recover.

Such a scenario could be observed if spot ETH ETFs are approved, BTC rises, or BTC dominance falls. If things go positive, 3640 – 3970 and 4373 dollars can be targeted for ETH respectively.

Factors such as BTC making the expected halving correction, the increase in BTC dominance or ETH not exceeding $ 3640 may initiate a new selling wave in the parity. In such a scenario, there may be declines towards 3454 - 3294 - 3000 and 2720 dollars, respectively. Daily closes below $3294 will herald major declines in altcoins.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should do their own research when making decisions.