My lovely people! Stay alert because this thing is heating up! 🔥 For years, altcoins have been in limbo, watching how Bitcoin (BTC) soared, grabbing all the attention and big bucks. Imagine the frustration of those who invested in other cryptos, seeing how their investments didn’t take off! 📉 Despite some attempts to rally, most remained at rock bottom, far below their past glory. People were playing it safe, preferring the security of Bitcoin.
But, pay attention! 👀 It seems the tide is changing, and it’s no joke! In recent days, the strongest altcoins have stepped up, like fighting roosters refusing to lose. They are showing great resilience! 💪 This coincides with the market in general catching its breath; it feels like a different vibe!
Carl Runefelt, one of those analysts who knows a lot, dropped some information that has us all wide-eyed. 🤩 He says the altcoin market is bouncing off a key support zone, as if it has hit rock bottom and is now on the rise! This has sparked the debate: Is the long-awaited altcoin season finally here? Or is it just a breather before another drop? The uncertainty has us biting our nails! 😬
This rally comes just as the macroeconomic situation, which had us all on edge, begins to calm down. Liquidity, that is, money, is returning to the cryptocurrency market. What a blessing! 🙏 But let’s not celebrate victory too soon, as there are still important resistance levels that altcoins need to break. Trust doesn’t recover overnight, you know? If this rally is for real, it has to surpass those levels and hold firm.
Now, a key point here: altcoins, despite everything, are still nearly 50% below their all-time highs. Crazy! 🤯 But the environment is changing, and those betting on the rise (the "bulls") are already rubbing their hands together. The key to all of this, my friends, lies with Ethereum (ETH). 🔑 If "Ether" manages to break its current resistance zone, hold on tight! Because it’s expected to drive the entire altcoin market. Since May, Ethereum has been in a "stand by" mode, consolidating, and altcoins have followed suit. If Ethereum doesn’t take off, the others don’t know what to do.
Carl Runefelt made us think about the TOTAL3 chart, which measures the market capitalization of all cryptocurrencies excluding Bitcoin and Ethereum. That’s where the truth about altcoins is revealed! According to him, they are bouncing off a key support level against Bitcoin. This is a sign that a possible recovery is coming if money starts to flow from Bitcoin to altcoins! 💰🔄
Historically, altcoins shine when Ethereum is in charge. If Ethereum strongly breaks $2,800, it would be the signal for a new major altcoin season! 🚀 Many investors are already positioning themselves, ready for the party, waiting for macroeconomic stability to give them the green light.
But beware, patience is a virtue! 🙏 Nothing is confirmed 100% yet. Bulls need to see Ethereum break strongly and maintain the momentum. If that happens, many altcoins that were at rock bottom could rise from the ashes like the Phoenix, and the market would be explosive! For now, we need to stay alert with Ethereum and the TOTAL3 chart; they will tell us when the moment is right!
The TOTAL3 chart, which excludes Bitcoin and Ethereum, is giving us hopeful signals. It seems to be bouncing from $830 billion, right where an important moving average has previously served as support. It’s like a trampoline! The market capitalization is around $875 billion, still far from its peak, but with a bullish energy that can be felt in the air. The last weekly candle was green and robust, which means people are getting back into altcoins! And transaction volume also increased, pure confidence!
Technically speaking, this rebound could be the start of a new growth phase. Especially if we manage to recover another important moving average and the price stays above $900 billion. The market structure is "constructive", meaning it looks good! With higher lows since 2022 and the price tightening for a possible explosion. So, let’s stay alert; this is getting interesting! 😉$ETH $BTC $BNB
