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Bitcoin Dominance Approaching Death Cross: Ethereum Could Kick Off Altcoin Season

Ethereum ETH USD is currently stuck below the $2,300 level, while Bitcoin Dominance is approaching a monthly death cross, a pattern seen only twice in history. This dual pattern has historically signaled the start of an altcoin season.

The two charts mirror each other. Because Ether is the largest altcoin, its prolonged strength against Bitcoin causes capital to shift from BTC to altcoins, pulling the dominance index down. This is exactly the textbook – or classic – setup we've seen at the beginning of altcoin rotations in the past.

Ethereum Targeting $3,430! Why is it Important?

Ethereum is currently trading at $2,280, and prices have been moving within a parallel channel with an upward trend since February. On April 27th, the token dropped below the channel's midline, and this break allowed bears to take control in the short term.
With this breakout, the daily Relative Strength Index (RSI) also fell below its own uptrend line. A double trendline loss is generally considered a bearish signal, heralding deeper corrections.

However, trading volume decreased rather than increased during this breakout. The Visible Range Volume Profile (VRVP) seen on the right side of the chart indicates a significant accumulation around $2,050. This area, coinciding with the lower band of the channel, stands out as the primary downside target should selling intensify.

If sustained closes above the channel's middle line occur, a new upside potential opens up, potentially taking the price to $3,430 with a measured 50% move. In the near term, the first strong resistance above is at $2,750, the previous peak that bulls need to overcome.

Traders' Analysis Also Points to $3,430!

Ether reached the $3,430 region from a completely different technical perspective on its daily chart. The analyst shows two downtrend lines, and the price has already broken above one of them. He says this pattern resembles a similar fractal seen in early 2025.

That pattern also resulted in a rapid upward movement after a period of sideways movement under resistance.

The target area he drew perfectly coincides with the long-term resistance in the channel-based chart. Two independent technical analyses agree that the price could reach the $3,430 target. This indicates that if the current downward movement is not permanent, Ether bulls have a clear upside target.
A Third Death Cross in Bitcoin Dominance History is Approaching!

The Bitcoin dominance chart is signaling the formation of a historical death cross. The slow moving average (yellow line) could fall below the fast moving average (white line) in June 2026.

This signal has only been seen twice in the asset's history: the first in July 2016 and the second in January 2021. Both events opened the door to a rapid decline in dominance and aggressive altcoin rotation.

BTC.D is currently at 60.59% of its monthly close. While dominance is still close to multi-year highs, the technical structure in the chart suggests that pressure may be downward in the coming months.

The 61% Threshold in BTC Dominance: Altseason Will Determine Its Fate!

The weekly chart reveals details not visible in the monthly view. After moving within an ascending channel for years, Bitcoin Dominance broke out in August 2025, and the price remained relatively stable within an accumulation zone from August 2025 to April 2026.

In the last two weeks, BTC D has broken out of this range and is currently at 60.75%, just below the critical 61% resistance. This point stands out as the level where the macroeconomic direction will be determined.

If a clear breakout above 61% occurs, the path could open up to 62% and the 66% peak seen in June. Conversely, a rejection from this region would trigger a monthly death cross scenario, signaling a price drop to the 49.23% level, which is located at the 0.618 Fibonacci retracement.

The break below $3,430 in Ethereum and the decline of Bitcoin Dominance to 49% are like two sides of the same altcoin trading pattern. In the coming weeks, the 61% dominance level and the middle line of the channel for ETH will be critical turning points to watch.
‍$BTC $ETH