CoinVoice has 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 exhibiting 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 near 0.03814 BTC, suggesting a possible increase of 55% by July. Meanwhile, the bullish flag pattern suggests a potential breakout to 0.03235 BTC, approximately 30% higher than current levels. Analyst Trader Tardigrade states that a breakout in ETH/BTC could trigger the altcoin season in 2025.
Data presented by analyst Sensei shows that the market capitalization of altcoins relative to Bitcoin is retesting a long-term ascending support trend line. Historically, each rebound from this level has heralded a massive rally in altcoins, once leading to a 9,000% increase and another time triggering a 180,000% market cap explosion.
Analyst Moustache also pointed out that altcoins are breaking out of a seven-year descending wedge, a pattern that appeared before significant rallies in 2017 and 2020, suggesting a new round of altcoin season may be on the horizon. [Original link]
