🚀 Is Altseason About to Ignite? Signs Point to a Major Shift

Since January, crypto enthusiasts have discussed altcoin seasons. Most cryptocurrencies have struggled to maintain positive momentum in recent months.

A market intelligence organization predicts that these digital assets will outperform Bitcoin, the world's biggest cryptocurrency by market capitalization, in the next months.

Is Altseason Near?

This forecast is based on Altcoin Dominance and its movement around a historical support level.

Alphractal studied two Altcoin Dominance metrics: one that omitted Ethereum and all stablecoins and another that excluded both. The former has historically found solid support around 25%, a level that typically sparks cryptocurrency rallies.

As illustrated in the picture above, Dominance dropped to 25% before rising to 35% in 2020. After falling to 24%, the statistic rose over 50% in 2021, during the final significant altseason.

The Dominance measure is 27.91% and may reverse as it approaches this important support. Thus, cryptocurrencies may see large market changes in the next months.

The Dominance metric—excluding ETH and stablecoins—has a crucial support of 18%. Breaching this support has caused large price fluctuations that gave cryptocurrencies market dominance ahead of Bitcoin.

Dominance measures indicate that the market may see volatility in the next days. Alphractal predicted that several cryptocurrencies would exceed Bitcoin in the next months, independent of its performance.

These levels may not initiate an Altcoin Season, but they've historically caused huge market changes.

The second-largest cryptocurrency by market cap is Ethereum, at around $302.2 billion. In the last 24 hours, the ETH token has dropped 1.6% to $2,504.

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