Ether’s (ETH) market is very close to hitting all-time lows as a classic bearish chart pattern hints at a deeper correction toward $1,100.
Ethereum’s market dominance keeps falling
On April 9, Ethereum’s market dominance, or the measure of Ether’s share of crypto’s overall market capitalization, hit a new multiyear low of 7.18%, according to Cointelegraph Markets Pro and TradingView data.
This value was merely a hair’s breadth above the all-time low of 7.09% reached in September 2019.
“Ethereum dominance is so very close to registering new all-time lows,” said popular crypto analyst Rekt Capital in an April 13 post on X, adding:
“Ethereum Dominance needs to hold this green area to position itself to become more market-dominant over the coming months.”
ETH market dominance %. Source: Rekt Capital
Ether’s market share is now at its lowest value since 2019-2020.