Ethereum’s Market Share Grows — Not Time to Cheer Yet

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Ethereum's crypto market dominance has reached its most overheated levels since May 2021, which may lead to a sharp pullback in ETH prices.

Ethereum’s market dominance has hit overbought RSI levels not seen since May 2021, historically followed by major pullbacks.

ETH/USD is showing a bearish divergence on the four-hour chart, hinting at a potential 10–15% price correction.

Despite the near-term risks, some analysts view a pullback as a “buy-the-dip” setup before a possible move toward $3,500–$3,800.

Ether has surged over 50% month-to-date in May, vastly outperforming the broader crypto market’s 15.25% gain. The rally has pushed Ethereum’s market dominance (ETH.D) toward the critical 10% threshold for the first time since March.

But the rising dominance accompanies signs of overheating, indicating that Ethereum bulls should not celebrate the rally just yet.

Several altcoins have produced even more impressive gains over the past day, with TON, SOL, and AVAX standing out from the larger caps.

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