Ethereum’s price is moving higher today alongside that of Bitcoin and the rest of the crypto market.
This latest push higher has allowed ETH to re-surmount its crucial $380 level – which is the price that has determined several trends throughout the past few months.
Bulls must now move to build support at this level, as another break below it could have some lasting damage on the cryptocurrency’s technical outlook.
Traders widely believe that the coming few days and weeks will alter Ethereum’s macro outlook, as the confluence of it having a bullish market structure, mixed with positive fundamental developments like the phase 0 rollout of ETH 2.0, could provide bulls with fuel.
One trader is now noting that he is anticipating these bullish factors to give Ethereum’s market dominance a serious boost.
While it is only currently sitting around 12%, he is eying a move past 17% in the coming few weeks.
If this dominance climb does take place, it will suggest that ETH has seriously outperformed both Bitcoin and its peers.
This potential dominance rise could also reignite “altseason” and provide smaller altcoins with massive momentum.
Ethereum Sees Bullish Upswing as Buyers Reclaim $380
At the time of writing, Ethereum is trading up roughly 1% at its current price of $382.
This marks a notable surge from its recent lows of $362 set just a few days