Altcoins
Crypto Analyst Predicts Upcoming Altseason, Citing Historical Market Trends Seen in 2018-2021
Cryptocurrency markets could be on the cusp of exciting change, according to a prominent crypto analyst who recently made bold predictions on Twitter. The analyst’s tweet suggests that what we have witnessed so far altcoin movements could be just the start of a broader uptrend, when compared to market structures seen from 2018 to 2021.
Altcoin season is coming!!!
According to Mustache’s tweet, current altcoin movements could signify the start of a significant uptrend reminiscent of market structures seen between 2018 and 2021.
Drawing on historical parallels, Mustache suggests that we may be on the cusp of experiencing the most another important season in at least four years. This anticipated new season typically involves pronounced price hikes and increased trading activity on various alternative cryptocurrencies.
However, the analyst points to specific technical indicators, including the formation of a falling wedge pattern and favorable RSI (Relative Strength Index) readings, as key factors supporting this bullish outlook.
Meanwhile, the tweet poses the intriguing question: are we just a few weeks away from witnessing the start of a parabolic curve in the altcoin markets?
Bitcoin Consolidation Coming
On the other hand, crypto analyst Jason Pizzino highlighted key insights into the current state of the cryptocurrency market. According to Pizzino, the longer Bitcoin stays below its all-time high (ATH) during consolidation, the higher the likelihood of a right-translated cycle and a significant altcoin season.
However, Pizzino cautioned that even if the market managed to reach new highs, it would not guarantee universal success for all altcoins, especially those that performed well in late 2023 and early 2024.
Also discover: Analyst Identifies Two Scenarios for Bitcoin: $75,000 or $47,000