Altcoins complete triple bottom signaling a significant altcoins surge soon.
Bitcoin Dominance drops like a rock further elevating altseason expectations.
ETH set to hit much higher cycle top prices, setting higher altcoin price surge possibilities.
Expectations for altseason arrival and altcoins to surge to new ATH prices grow even stronger with the latest crypto market developments. To highlight, altcoins complete triple bottom on the altcoin price chart just as Bitcoin Dominance continues to drop hard like a rock. Analyst confirm a lower low soon for Bitcoin Dominance as something huge is loading for altcoins.
Altcoins Complete Triple Bottom Pattern
With the price of pioneer altcoin Ethereum (ETH) slowly pumping back up to its previous ATH target at $4,800, analysts believe ETH is on the verge of an explosive rally. In under a week the price of ETH broke past the $3,000 barrier and is already trading above the $3,600 price range. With ETH finally making a bold charge, altcoins are mirroring its bullish fervor, and a few promising altcoins are already steadily pumping.
https://twitter.com/Washigorira/status/1945823136735269041
According to the post above, altcoins have already completed a bullish triple bottom breakout pattern. This marks a significant bullish indicator for the prices of all altcoins. As a signal like this implies a parabolic move for the entire altcoin market, meaning one thing for certain, that this bull cycle’s altseason peak is almost underway, and the rewards reaped will be exponential.
With all these moves in place, it is certain that something big is happening for altcoins. A popular data analysis platform says that the first signs of optimism have returned for altcoins. It says that the key metric to watch now is Altcoin Dominance. But this dominance hasn’t yet reached the 25% level that historically marked the start of a true Altcoin Season. However, it notes that it may or may not reach 25% this time, since we now have more altcoins in the market than in previous cycles.
Dropping Bitcoin Dominance Signals Altseason Onset
https://twitter.com/el_crypto_prof/status/1945949065113477364
Either way, the platform says that analyzing Altcoin Dominance excluding ETH or stablecoins has proven to be a powerful strategy to position oneself in altcoins—yielding much higher returns than Bitcoin. Meanwhile, the analyst in the post above draws attention to the fact that Bitcoin Dominance has been in an ascending channel for over two years, and concludes that altcoins were performing well even before a major breakout.
With new cycle top predictions such as ETH expected to hit a bullish target between $15,000 and $20,000 in the coming altseason phase, expectations for altcoins to set a string of new ATHs of their own continue to grow steadily stronger. At the moment, several promising altcoins like XRP and ADA have already been pumping but are yet to reclaim their previous ATH prices, perhaps they will soon.
