Mike Smith
Jan 1
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Ethereum's dominance in the cryptocurrency market has stabilized at 12.82%, which may indicate the beginning of a recovery. If the indicator breaks the 13% mark, this will be an important confirmation of a reversal and continuation of the bullish trend. Trader optimism also strengthens the outlook: 78.3% of Ethereum futures market participants expect growth, which underlines confidence in the cryptocurrency’s potential.
Ethereum’s share of the total cryptocurrency market has been noticeably declining over the past few months, starting the year at around 18% and reaching a recent low of 12%. This decline was caused by the redistribution of investor capital towards other assets. However, the dynamics have changed, and Ethereum’s dominance seems to have found a stable foothold.
The current situation on the charts highlights key levels influencing Ethereum’s growth trajectory. The zone around 12% has confirmed its role as a reliable support, from which dominance has bounced off more than once, indicating a high level of confidence on the part of market participants. On the other hand, the range of 13-13.5% remains a resistance zone, where earlier growth attempts slowed down.
If Ethereum can overcome this resistance and consolidate above, the growth in trading volume may strengthen the positive dynamics. Consistent closing of trading sessions above the 13% level is especially important - this will be a signal for a potential increase in the share of ETH in the market.
The influence of macroeconomic factors, efforts to scale through second-layer solutions and technological developments continue to support interest in Ethereum. Growing investor confidence may be associated with expectations of positive changes that traditionally occur in the first quarter of the year. Historical data also suggests the strength of Ethereum during this period, which may create favorable conditions for an increase in the share of altcoins in the market.
The latest data confirms that market participants' optimism remains. Thus, more than 78% of traders with open positions on Ethereum futures are betting on growth. This further strengthens the overall positive mood.
At the time of publication, the current price of Ethereum is $ 3,415.90, and the 24-hour trading volume exceeds $ 16 billion. Over the past 24 hours, the value of ETH has increased by 0.88%, which reflects a steady upward trend.
