1) Lots of people are on ETH - not only ordinary people but also institutions, news stations and known people within crypto.
2) ICO season is active/approaching. Lots of the ERC-20 tokens are doing well and a majority of the top 100 coins are ERC20. More ICOs coming up as well which makes ETH very attractive.
3) Recent ETH run shows that there's a possibility that BTC gets taken down. ETH moves on his own lately which is a good sign. It is becoming less dependent of BTC and I wouldn't be surprised if people hedge in ETH now instead of BTC .
I myself am very on ETH too and I'm seeing a continuation of the bull run for the following technical reasons:
1) Fairly obvious bullflag - looks like a possible 0.1 btc jump (0.105btc - 0.115btc) once it breaks.
2) Parabolic looks intact. It even surpassed the parabolic trend for now. I think it's gonna slow down a bit between 0.618 and 0.786 before a run to the old ATH .
3) still has some room to grow. Major resistance needs to be broken in the to confirm the break. We are hanging around the overbought area right now but it shows that there's strength in the trend/people still wanting to buy. I'm not too worried about that.
4) dropped quite a bit - we need more in the breakout imo . Not very worrying I think as people tend to buy once the breakout happens.
5) ETH hit the bottom and bounced HARD. As HARD as my morning wood.
Exciting times for ETH holders. Track the flippening here: https://www.flippening.watch/ - 0.173 is the magic number - https://www.reddit.com/r/ethtrader/comme...
Based on all this I'm not surprised if ETH is gonna overtake BTC in 2018 - my prediction is in May but it could also be earlier. I'll make another chart on ETH in a few days or weeks to see how this eventually looks.
Expect resistance at the fibs and in between.
4H timeframe + bullflag
If you like my analysis consider following me on twitter: http://www.twitter.com/cryptoniter