I have given ETH a lot of negative criticism throughout this cycle for underperforming relative to other Altcoins. However, ETH has started to show some very bullish strength yesterday due to newfound hype surrounding spot Ethereum ETFs. The ETF news looks positive, and ETH is likely to rally with an ETF approval. Over the past 24 hours ETH has gained almost $70 B in market cap, which is almost equivalent to SOL’s entire $80 B market cap. The narrative throughout this cycle is that SOL has been outperforming ETH. However, ETH is showing a lot of strength here due to the ETF news. In terms of price action, ETH has blasted through numerous resistance levels including the orange trendline and light blue zone. My next key price target is the yellow zone between $3,900 and $4,050. ETH’s bullishness is a very good sign because ETH is the leader of the Altcoin market. When ETH goes on a rally, Altcoins are going to rally too.

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