"The theory that 'Ethereum is dead' has been debunked! A classic breakthrough has ignited the alt season, how much room is there for ETH's comeback?"

The assertion that "Ethereum is dead" has repeatedly emerged in the crypto market over the years. However, the recent price movement and technical patterns of ETH seem to be sending completely different signals. Classic breakout patterns, a rebound in volume, and a rise in Google search trends have all led the market to start discussing: could this be the prelude to altcoin season?

Classic Breakthrough: ETH Technical Indicators Release Bullish Signals

(Source: ADVFN)

The recent ETH price movement has shown a clear breakout pattern on the technical chart. From the consolidation at the beginning of August to the recent break above the key resistance level, market sentiment has quickly heated up.

Bull traders point out that this pattern often indicates that funds are flowing back in, which may trigger a wave of continued upward movement.

Performance gap between ETH and BTC

(Source: ADVFN)

In the long-term trend, Bitcoin (BTC) has still outperformed ETH by about 100%. During the crypto winter, some investors had hoped that ETH would surpass BTC, but the reality did not meet their expectations.

The challenges faced by ETH include:

1. Intense competition from public chains like Solana

2. The frequent adjustment of ecological rules, while beneficial for technological upgrades, may suppress price momentum in the short term.

Possibility of Altcoin Season

(Source: Google Trend)

The rebound of ETH has led the market to speculate whether the "altcoin season" is coming soon.

If ETH continues to strengthen, it may attract funds flowing from BTC, driving other alts to rise in sync.

Google Trends data shows that the search interest for ETH has not significantly declined compared to BTC, indicating that investor interest still exists.

This means that the second wave of alts market is not impossible in the second half of this year.

Market Signals Traders Should Pay Attention To

Although the technical aspect of ETH is bullish, the market still needs to be cautious:

1. If the breakthrough momentum is insufficient, ETH may fall back into a sideways trend again.

2. If funds continue to concentrate on BTC, the altcoin season may be delayed.

3. New narratives such as artificial intelligence, DeFi, and treasury reserves may become catalysts for the price movement of ETH.

Conclusion

The "death rumors" of Ethereum may be premature. Technical breakthroughs, capital inflows, and a warming market sentiment are all providing new upward momentum for ETH. Although competition is fierce and rules are frequently changing, as long as the capital and trading enthusiasm continue, ETH still has a chance to welcome a wave of its own shining moments in the second half of this year.

For traders, the key next step is to observe whether ETH can stabilize above the breakout level and lead the market into a true altcoin season.