CoinVoice recently learned that, according to Cointelegraph, ETH/BTC is forming multiple bullish technical patterns, and analysts believe this could trigger a new round of "altcoin season" in 2025.
Technically, the ETH/BTC ratio is displaying both a cup and handle pattern and a bullish flag pattern. The cup and handle pattern indicates a potential breakout at the neckline of 0.02596 BTC, with a technical target nearing 0.03814 BTC, suggesting a 55% increase by July. Meanwhile, the bullish flag pattern hints at a potential breakout to 0.03235 BTC, approximately 30% higher than the current level. Analyst Trader Tardigrade stated that a breakout in ETH/BTC could trigger the altcoin season in 2025.
Data presented by analyst Sensei shows that the altcoin market capitalization relative to Bitcoin is retesting a long-term upward support trendline. Historically, each rebound from this level has signaled a massive surge in altcoins, with one instance leading to a 9,000% increase and another triggering a 180,000% market cap explosion.
Analyst Moustache also pointed out that altcoins are breaking through a seven-year descending wedge, a pattern that appeared before significant surges in 2017 and 2020, suggesting a new round of altcoin season may be approaching. [Original link]
