$ETH chart signals ‘altseason’ as analysts predict $10K ETH price top
Ether’s technical setup suggests that the altcoin is poised for sharp price gains that could mark the start of an “altseason” over the next few weeks or months.
Technical analysis using the Wyckoff method points to a potential Ethereum price breakout to the $3,200 mark, according to crypto analyst Mikybull.
Prepare for altseason: Analyst
The Altcoin Season Index, a metric used to measure the performance of non-Bitcoin cryptocurrencies (ie, altcoins) in the cryptocurrency market, suggests now is the time to get into altcoins.
“The Altcoin Season Index is flashing signs of opportunity,” founder and CEO of Alphractal, Joao Wedson, said in a June 26 post on X, adding, “Make sure you are prepared.”
Bitcoin has outperformed altcoins over the last 60 days, with the altcoin season index in the green zone below 20%.
Wedson explained that this is not “necessarily bad,” arguing that “it could be a great chance to accumulate altcoins while they’re still lagging.”
The chart below shows that every time the index rose above 20%, it rose sharply over a short time, topping 80% as “lagging” altcoins started to outperform Bitcoin.