Ethereum is expected to experience a significant breakout, with a target price of $3,400-$3,500 if it surpasses the $2,800 resistance level. A support level around $2,575 is crucial to prevent a deeper correction.
The market cycle outlined by the expert indicates that Bitcoin leads the way, followed by consolidation before Ethereum and then altcoins outperform Ethereum.
Increased momentum in the DeFi and Ethereum ecosystem projects hints at a broader altcoin rally. This shift suggests growing investor interest in higher-risk assets within the decentralized finance sector.
Overall, the expert points out that the current market sentiment leans towards taking higher risks for potentially greater returns in the cryptocurrency space.