Ethereum price has been on the rise lately as the asset keeps making higher highs. The asset moved high to over $ 4,000 but failed to hold as the bears jumped into action immediately. However, bullish momentum is still intact as ETH price is still floating above the $ 3900 level. And so the likelihood that the asset will destroy ATH over the weekend is quite high.
On the other hand, Ethereum is getting stronger and stronger every day as its dominance is currently over 20%. The dominance of bitcoins is also falling sharply and is on the verge of falling below 40%. Something similar happened during the 2018 bull rally, in which both BTC and ETH shared a more or less similar dominance.
Hence, the asset is trying very hard to return to its previous positions above $ 4000. And on top of that, a hard blow to dominance to be more dominant in the days to come could eventually outperform Bitcoin. But the question arises, can it replace the bitcoin storm? Probably not, but the possibilities are high.
Also read: Bitcoiners leave Coinbase and go to Binance! But why?
Cardano price for a toss, focus on other altcoins!
The Cardano price slipped very quickly after testing the $ 3 zone. However, the fall was not so steep that the target was kept away. And so the ADA fell into a healthy consolidation, but the trends within a symmetrical triangle.
A symmetrical triangle breakout usually does not guarantee the direction of the breakout. It could go up or down after the consolidation. However, considering market conditions, the possibility of smashing the upper braces appears high. However, a 15% drop in trading volume also gives cause for concern over the weekend rally.
Aside from Ethereum and Cardano, some other altcoins could jump by a wide margin in the coming week. Coinpedia listed some of the altcoins to watch out for in September, and on top of that, Solana appears to be resuming its bull run soon. Apart from that, some primitive coins like Litecoin, XRP, Polygon (MATIC) could also have a greener week ahead of them.
Also Read: Cardano’s Alonzo Hard Fork Update, Will It Be As Expected Or Is Something Different Expected?