Altcoin Market cap shows bullish momentum and will rise soon.

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Ethereum is expected to survive its current downturn and grow with the merger.

The crypto space appears bearish after a solid week as the price of Bitcoin struggles to hold its $22,000 level. Altcoins, on the other hand, prefer to trade in a narrow channel with less volatility. The price of Ethereum is expected to see a dramatic change shortly, which could shake up the entire crypto space.

Leading analysts believe that altcoins are showing great momentum as their market prices are slowly moving towards key resistance levels. The market capitalization has recently rebounded significantly from a $460 billion undershoot and is now at $650 billion after reaching $600 billion.

The RSI aims to confirm an uptrend, and when it is done, its market value is expected to increase. Additionally, the market is retesting its 2017 highs and holding above the 200-week moving average, which is a great sign of a move to $1.

However, analysts recommend paying attention to Tether's dominant profile. This shows that the majority of cryptocurrency market capitalization is stablecoins, which is USDT. So now that the government falls, a business can rise.

Analysts point to Ethereum and believe that altcoins may be sharply opposed to Bitcoin in the future. However, the asset may retain significant momentum to test resistance at 0.0725 BTC. Growth is expected to continue in the September merger.

Ethereum (ETH) Price Falls Ahead of FOMC Meeting, Latest updates

The price of Ethereum has shown stability recently, showing strength despite several strong swing attacks after breaking the capital above $1500. Even during the last sale of 75% of BTC Holdings of Tesla, Ethereum remained at the level of $1500, and after a brief consolidation. the asset is expected to see major movements shortly.

Traders' confidence in the most stable cryptocurrencies has been shaken in recent updates. Sentiment data suggests that many traders believe that the current high price is short-term, leading to a large drop in the weight of ETH.

This shows that traders don't believe the hype and expect the ETH price to drop before the FOMC meeting. Therefore, the price of ETH is expected to remain very volatile in the next 24-48 hours. However, volatility is expected to provide a stronger leverage effect than the lower price.

Although the market sentiment is very bullish, this indicates that the price of Ethereum may reach levels above 1800 dollars shortly. This is because the price of ETH is trading in the market and we may see a strong fall shortly. With a breakout, the asset can quickly reach resistance above $1800.

Overall, despite the negative market sentiment, the Ethereum chart is very positive. Therefore, we may see heavy price action in the future that could cause the price of ETH to bounce back significantly, but the direction is unclear at this point.