Ethereum Hits All-Time High as Altcoins Prepare for Next Bullish Phase

Based on the recent market dynamics, I observed that the meme coin cycle driven by Pumpfan and his associated projects was expected to continue over the next few months. Despite the July pump, liquidity was redistributed among various altcoins and trending tokens. However, some strategic market participants decided to disrupt the usual pattern and successfully forced Ethereum to reach an all-time high, showcasing a significant pump. In contrast, the altcoins have shown minimal reaction to these developments, indicating that major whales and smart money are still assessing the new market conditions and are carefully choosing their strategies. The current outlook suggests a likely upcoming surge in altcoins, especially with the expectation that Ethereum will maintain or extend its bullish momentum, making it a valuable asset for betting on further growth. Projects like SPK, APU, DOLO, CULT, NPC, and PEPE are promising candidates for this potential rally. If altcoins begin to follow the bullish trend, we might see a re-test of last month's key support levels, with coins such as XLM, ENA, SPK, ONDO, PRCL, and RPL positioned as strong contenders for upward movement. Overall, the market appears to be on the verge of a shift, with Ethereum’s break to ATH indicating bullish sentiment and alts possibly primed for a rally. It’s crucial to watch the re-test levels and monitor whale activity and smart money positions to confirm the next phase of the market cycle.