Ethereum continues to stand out as one of the most closely watched cryptocurrencies in the market — not because of dramatic price surges, but due to the clearly defined chart structure that has been forming since mid-May. While many altcoins such as Solana, Cardano, and Sui have entered a downward trend recently, Ethereum has remained relatively resilient. The ETH/USD pair is currently displaying a bullish setup: an ascending triangle, characterised by higher lows and a stable resistance level just below $3,900.
If this pattern breaks as expected, Ethereum could push toward the $4,000 mark. Combined with the prior upward move, the setup may even suggest the formation of a potential “bull pennant” — a structure that often precedes further gains in an uptrend.
ETH’s Performance Compared to Bitcoin
However, the more significant development might be taking place in the ETH/BTC chart. Here, analysts are seeing the formation of a symmetrical triangle with a bullish bias. If Ethereum continues to outperform Bitcoin, this could serve as a long-term catalyst for the start of a new altcoin season — a cycle observed in previous years where Bitcoin moves first, followed by Ethereum, and then the rest of the altcoin market.
The ETH/BTC pair recently saw its strongest recovery since August 2022. A decisive breakout to the upside would take it to levels last seen in early 2024. This momentum, combined with increasing capital inflows into Ethereum exchange-traded funds (ETFs) — such as the BlackRock-backed “Etha” — provides a solid foundation for continued growth.
Over the past four weeks alone, around $1 billion has been poured into Ethereum-related investment products. This comes after a lengthy period of low capital interest in the asset.
Capital Rotation from Bitcoin to Ethereum Under Scrutiny
Another critical aspect being monitored by market participants is the potential rotation of capital from Bitcoin to Ethereum. Should this trend materialise, it would likely benefit a wide range of altcoins, which often follow Ethereum’s lead in market rallies.
Nevertheless, risks remain. The confirmation of a full-scale altcoin season has yet to be seen. A strong and sustained breakout would serve as a clear signal, potentially prompting more investors to shift their focus to ETH and related assets.
Solaxy Presale Hints at Growing Altcoin Momentum
One indicator of this emerging trend could be the increasing popularity of presale tokens like Solaxy. This new Layer-2 solution for the Solana network aims to improve both scalability and reliability — addressing persistent technical issues that have led to network outages during periods of high demand.
With the $SOLX token at the core of the project, investor interest has surged. The ongoing presale has already raised more than $43.7 million, making it one of the most successful initial coin offerings (ICOs) of the year. Solaxy’s Layer-2 platform is designed to handle a significant share of Solana’s transaction load, thereby relieving pressure on the mainnet. This vision has attracted both tech-savvy users and investors alike.
While the presale is still active, it is entering its final stages. For those looking to get in early, Solaxy presents an intriguing alternative to major cryptocurrencies — especially as momentum for the broader altcoin market continues to build.