{"id":13431,"date":"2024-05-12T13:31:50","date_gmt":"2024-05-12T10:31:50","guid":{"rendered":"https:\/\/forklog.com\/en\/analysts-point-to-signs-of-an-approaching-altcoin-season\/"},"modified":"2024-05-12T13:31:50","modified_gmt":"2024-05-12T10:31:50","slug":"analysts-point-to-signs-of-an-approaching-altcoin-season","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/analysts-point-to-signs-of-an-approaching-altcoin-season\/","title":{"rendered":"Analysts Point to Signs of an Approaching Altcoin Season"},"content":{"rendered":"<p>The altcoin market is currently in a &#8220;disbelief stage,&#8221; which, if past cycles are any indication, will soon transition into an &#8220;explosive rally,&#8221; according to a trader known as Mikybull.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/Altcoins?src=hash&#038;ref_src=twsrc%5Etfw\">#Altcoins<\/a> market cap is currently at the disbelief stage, historically followed by an explosive rally.<\/p>\n<p>Historically, the marked-up consolidation has made huge gains (2016 &#038;2020). <a href=\"https:\/\/t.co\/x4NDs6RslU\">pic.twitter.com\/x4NDs6RslU<\/a><\/p>\n<p>\u2014 Mikybull ?Crypto (@MikybullCrypto) <a href=\"https:\/\/twitter.com\/MikybullCrypto\/status\/1789284803902075333?ref_src=twsrc%5Etfw\">May 11, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Historically, the marked-up consolidation has made huge gains (2016 and 2020),&#8221; the expert added.\u00a0<\/p>\n<\/blockquote>\n<p>The disbelief stage is a phase where investors remain skeptical despite positive market indicators. The cryptocurrency fear and greed index is <a href=\"https:\/\/alternative.me\/crypto\/fear-and-greed-index\/\">at 56<\/a>, indicating a decline in bullish sentiment. Over the past month, the index has dropped by 24 points.\u00a0<\/p>\n<p>During the same period, the OTHERS indicator, which tracks the market capitalization of all cryptocurrencies except the ten largest, fell by 17.55% to $264.9 billion.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-eu.googleusercontent.com\/b_zqR4NFJG1CegZh2tQTv3dW41MQd6U48lPvkDz04c6KymeWIGeSFkpA5X9yK5OOHihHmjguEfhrC75Wl54a0rtIxJuK-KD_OEBG-E4E-VXen74D2vcwzR5joUtiQcojXrD7FUD2XQ3mCZClsj5oefM\" alt=\"Analysts Point to Signs of an Approaching Altcoin Season\"\/><figcaption class=\"wp-element-caption\">Altcoin capitalization (OTHERS). Data: <a href=\"https:\/\/www.tradingview.com\/symbols\/OTHERS\/\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>Analyst Rekt Capital noted that the metric maintains support at $250 billion, &#8220;preparing for a future move upwards&#8221; to $425 billion.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/search?q=%24ALTS&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$ALTS<\/a><\/p>\n<p>Altcoin Market Cap is still holding the $250bn well as support, positioning itself for a future move to the upside via the black pathway<a href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&#038;ref_src=twsrc%5Etfw\">#BTC<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Crypto?src=hash&#038;ref_src=twsrc%5Etfw\">#Crypto<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> <a href=\"https:\/\/t.co\/vPorkjHqem\">https:\/\/t.co\/vPorkjHqem<\/a> <a href=\"https:\/\/t.co\/0rLdxhFeL1\">pic.twitter.com\/0rLdxhFeL1<\/a><\/p>\n<p>\u2014 Rekt Capital (@rektcapital) <a href=\"https:\/\/twitter.com\/rektcapital\/status\/1789344564693659921?ref_src=twsrc%5Etfw\">May 11, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Besides OTHERS, experts are monitoring three other metrics: the 20-day exponential moving average (EMA20), stochastic RSI, and Bitcoin dominance index.\u00a0<\/p>\n<p>Trader Titan of Crypto predicted an imminent rally, as the altcoin capitalization index retested the EMA20, and the stochastic RSI &#8220;shifted to bullish&#8221; on the weekly timeframe.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Altcoins?src=hash&#038;ref_src=twsrc%5Etfw\">#Altcoins<\/a><\/p>\n<p>When the Crypto Total Market Cap fulfills these two conditions:<\/p>\n<p>1\u20e3 Retest of the EMA20 ?.<br \/>2\u20e3 Stochastic RSI crosses bullish on the weekly timeframe.<\/p>\n<p>\u27a1\ufe0f It&#8217;s rally time for the crypto market. ? <a href=\"https:\/\/t.co\/FK5SjPBwSa\">pic.twitter.com\/FK5SjPBwSa<\/a><\/p>\n<p>\u2014 Titan of Crypto (@Washigorira) <a href=\"https:\/\/twitter.com\/Washigorira\/status\/1789330026107711683?ref_src=twsrc%5Etfw\">May 11, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Over the past week, the dominance index of the leading cryptocurrency decreased by 0.5%. At the time of writing, the figure stands at 54.75%.\u00a0<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-eu.googleusercontent.com\/ftM95X7zyVS3JQ0zjlF_1xNFxvh83zfRE0kyHR9aM0WIA1xrpE9S2Qquv5oj5p7MOGU596UDoNSb3NxvMItoYXmN3huWlkhs9vsKXtwUsm3sHs13RccEuP4u1Z8aXFuZlCxRy0aCmlhysQ-0ombRSj8\" alt=\"Analysts Point to Signs of an Approaching Altcoin Season\"\/><figcaption class=\"wp-element-caption\">Bitcoin dominance index. Data: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTC.D\/\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>Technical analyst Yoddha shared his forecast, suggesting the index will reach 57%, after which it will decline, ushering in an altcoin season.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/Altcoins?src=hash&#038;ref_src=twsrc%5Etfw\">#Altcoins<\/a> <\/p>\n<p>I shared this plan back in 2023 and it&#8217;s being followed perfectly <\/p>\n<p>BTC.D went above 55% and made a high of 57% <\/p>\n<p>A fall from here can start an Altseason <a href=\"https:\/\/t.co\/ZWyuQMWcIa\">pic.twitter.com\/ZWyuQMWcIa<\/a><\/p>\n<p>\u2014 Yoddha (@CryptoYoddha) <a href=\"https:\/\/twitter.com\/CryptoYoddha\/status\/1789368115244986628?ref_src=twsrc%5Etfw\">May 11, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Previously, experts at Santiment <a href=\"https:\/\/u1f987.com\/en\/news\/ethereums-transaction-fee-drop-signals-potential-altcoin-season\">highlighted<\/a> signs of a potential altcoin rally, indicated by Ethereum&#8217;s transaction fees dropping to a six-month low ($1.12).\u00a0<\/p>\n<p>Back in the summer, analyst PlanB <a href=\"https:\/\/u1f987.com\/en\/news\/plan-b-predicts-bitcoin-to-reach-300000-by-2025\">predicted<\/a> the onset of an altcoin season, followed by a correction in the third quarter.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The altcoin market is currently in a &#8220;disbelief stage,&#8221; which, if past cycles are any indication, will soon transition into an &#8220;explosive rally,&#8221; according to a trader known as Mikybull. #Altcoins market cap is currently at the disbelief stage, historically followed by an explosive rally. Historically, the marked-up consolidation has made huge gains (2016 &#038;2020). [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":13430,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[20,1145,1138],"class_list":["post-13431","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-altcoins","tag-market-analysis","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"25","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/13431","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=13431"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/13431\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/13430"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=13431"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=13431"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=13431"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}