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Home»BITCOIN NEWS»Is altcoin season approaching? Analyst Predicts Ethereum Breakout That Will Start Rally.
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Is altcoin season approaching? Analyst Predicts Ethereum Breakout That Will Start Rally.

By Crypto FlexsMay 16, 20243 Mins Read
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Is altcoin season approaching?  Analyst Predicts Ethereum Breakout That Will Start Rally.
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Cryptocurrency analyst Javon Marks I recently suggested: Altcoin Season It may be imminent, or Ethereum may be the cause. As part of the analysis, analysts predicted: Ethereum As altcoin season begins, a rally is expected to hit these crypto tokens.

Altcoins that follow Ethereum’s movements

Mark with an X (formerly Twitter) post that New All-Time High (ATH) For Ethereum, it could become “a key service in many Altcoin proceedings.” The analyst said this while emphasizing the following: bull flag It is formed on the Ethereum chart. He argued that the departure of the flag could trigger a massive rally in Ethereum, which in turn could have a positive impact on other altcoins.

Ethereum regularly It surpasses the main cryptocurrency, Bitcoin.Instead of mirroring Bitcoin’s price movements, this is inspiring other cryptocurrency tokens to see significant gains. Cryptocurrency analyst Michael van de Poppe Spot noted that news regarding the Ethereum ETF is likely to trigger this move for Ethereum and other altcoins.

He also said that Bitcoin’s dominance has peaked, meaning the flagship cryptocurrency could be cooling off while these altcoins enjoy an upward trend. Van de Poppe is previously predicted The story will shift to Ethereum and we expect altcoins to bounce off the Bitcoin pair. After half life.

More recently X post, the cryptocurrency analyst also suggested that a significant rally for Ethereum could be coming soon. According to him, the second largest cryptocurrency token by market capitalization is currently in the final stages of adjustment. He added: “Good times will come in just a few weeks.”

These “good times” are also coming for other altcoins like Van de Poppe. exposed He currently sees a period of consolidation on the altcoin market cap chart, which comes before the “next big rally.”

Altcoin season may still take some time

Cryptocurrency analyst Rekt Capital It suggested that it may still be a while before the market witnesses an altcoin season. to X postHe said, “The window altcoin bottom “It’s just beginning.” This means that there is still a chance for these cryptocurrency tokens to decline before experiencing a trend reversal and moving into an upward parabola.

Source: X

Other X post, the analyst said, “There is still time until the Q2 Altcoin Hype Cycle begins. However, he pointed out: altcoin “The foundations for the next Altcoin rally are being built as we speak,” he claims, adding that he is already gearing up for this move.

Rekt Capital is convinced that this period of consolidation is needed before altcoins can experience such consolidation. significant price surge. “A market-wide breakout cannot happen without the market first experiencing a slowdown. integration period,” he insisted.

At the time of writing, Ethereum is trading around $3,000, up more than 3% in the last 24 hours. data From CoinMarketCap.

Ethereum price chart (altcoin) on Tradingview.com
ETH price rises above $3,000 | Source: ETHUSD on Tradingview.com

Charts from Tradingview.com

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