Ethereum (ETH) price surges more than 30% in March, and altcoins see 5- to 10-fold rallies!

Market leader Bitcoin recorded a sharp correction of over 7% in BTC price last night after hitting a short-term high of around 64K.

On the other hand, the price of Ethereum, the leader in altcoins, continues to trade positively, showing tremendous strength in the cryptocurrency market. Additionally, ETH price is currently only 29.11% away from the new ATH, highlighting that huge price swings are likely in the future.

This is when ETH price could reach a new ATH!

Ethereum price is up 6.52% in 24 hours and 53.18% in the last 29 days, making it a positive month for ETH. Additionally, ETH price successfully breached $3,600 during early trading hours today, indicating strong bullish leverage for the altcoin leader in the cryptocurrency industry.

The technical indicator MACD displays a persistent green histogram, which indicates that there continues to be significant buying/selling pressure in the cryptocurrency space. Moreover, the average shows a significant rise on the chart, highlighting the positive price movement of the altcoin in the future.

Considering the current market sentiment, ETH price is expected to test the upper resistance level of $3,800 by next week. However, if a trend reversal occurs, the price may test the $3,200 support level.

How this affects altcoins!

As market volatility increases and the Ethereum price becomes more likely to hit new highs, the top tokens on the ERC-20 chain are starting to see significant price movement in their portfolios. If ETH price hits new highs, it will have a huge impact on the altcoin sector as many tokens will be built and run on this chain.

Top tokens such as Chainlink (LINK), Uniswap (UNI), Decentraland (MANA), Shiba Inu (SHIB), and Lido Dao (LDO) have recorded significant price movements in the past week and are expected to experience the same in the future. main.