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- Shiba Inu (SHIB) and Ethereum (ETH) have been predicted to lead the altseason as analysts anticipate an upcoming explosive upsurge.
- EGRAG CRYPTO argues that ETH could be one of the most disappointing cryptos this season as he tips a peak between $7k and $9k.
The altseason index indicates that the much anticipated period is quite far from commencing with a reading of 44/100. However, analysts are very optimistic that the season could soon emerge with Ethereum (ETH) and Shiba Inu (SHIB) tipped to lead the rally.
ETH has been one of the most affected cryptos in the ongoing market pullback, as it lost 6% of its weekly gain to drag the price down to $3,367 at press time. SHIB has also declined by 22% in the last 30 days to trade at $0.000021 at press time.
SHIB Price Analysis
Commenting on the Shiba Inu price action, Citigroup analysts highlighted that 2025 could be a “big year” for altcoins, with SHIB and ETH hitting unexpected levels, as earlier reported by CNF.
Currently, SHIB has a crucial support level at $0.000021 amid its consolidation phase. According to the analysts, failure to hold above this level could see SHIB declining to $0.00002050 which is flagged as a stronger support zone. Meanwhile, $0.00002150 is said to be the immediate resistance level with the stronger one found at $0.00002180.
Delving into the various market indicators, we found SHIB to be on a bearish trend as its Relative Strength Index (RSI) reads at 39, which is far from the neutral level of 50. The Moving Average Convergence Divergence (MACD) also points at a similar trend while the histogram bars are shrinking to indicate a weakening bearish momentum.
Meanwhile, whales have started accumulating the asset amid the expected launch of the much anticipated TREAT token. As we recently discussed in a CNF report, SHIB wallet addresses, which are holding balances, have increased to 1.38 billion.
Analyst Says ETH Would Disappoint
Despite the bullish statement from Citigroup analysts, trader Egrag Crypto believes that ETH may leave most investors disappointed this cycle. Explaining this claim, EGRAG CRYPTO highlighted that the market cap of ETH could only reach between $915 billion and $1.16 trillion if it hits Fib 1.272 to 1.414.
In the previous cycle, ETH’s market cap peaked at Fib 1.414 despite recording an incredible run. According to him, the asset may struggle to breach the $1 trillion market cap this cycle. In a nutshell, the maximum valuation could be $1.16 trillion.
Analyzing its historical dominance, the analyst observed that ETH had a 26% dominance in January 2018. Contrary to this level, EGRAG CRYPTO believes that the dominance will not exceed 10-15% this cycle.
Using the Bollinger Bands (BB), he also explained that the top is around 14%, which aligns with the Fib 0.5. A successful breach of this level would position Ethereum at the next crucial resistance levels at Fib 0.618 and 0.702.
When the market cap triples from the current position of $390 billion to a little over $1 trillion, the price could only manage to reach between $7K and $9K. In the short term, analysts expect ETH to stage a rebound to $4k, per the CNF report.
