Ethereum Outshines Bitcoin in Price Action, Triggers Bullish Speculation

Bitcoin's price breakout has traders predicting a potential move to $90,000, but Ethereum is gaining more attention as it displays stronger relative price action. DonAlt, a prominent trader, attributes Bitcoin's breakout to repeated tests of weekly resistance after bouncing from monthly support.

According to DonAlt, bearish catalysts failed to push Bitcoin lower, indicating seller exhaustion. He also notes that the rally continued even as liquidations slowed, suggesting fresh buying demand had replaced forced short covering.

DonAlt sees a bullish structure above $72,000 to $73,000 and targets $89,000 to $94,000 on the upside before an orderly correction. A drop below $70,000 could weaken momentum, while a fall below $65,000 to $66,000 would threaten the breakout.

Ethereum is gaining attention as it has already broken resistance that Bitcoin still confronts. DonAlt believes Ethereum's relative price action is stronger than Bitcoin's and sees a target of around $4,000 before reassessing its potential for new highs.