Five-step pattern of the altcoin market:

Bottoming out during the bear market: The altcoin market bottomed out during the bear market, and investor confidence was hit. Bear market resistance level topped out: The market topped out at the bear market resistance level, showing some signs of rebound. Test the bear market resistance level again and consolidate: The market tested the bear market resistance level again, consolidated, and prepared for the next breakthrough. Break through the bear market resistance level and flip: The market broke through the bear market resistance level and flipped it into support, showing a bullish signal. Break through the historical high and enter the altcoin season: The market broke through the previous historical high and entered the altcoin season, and investors turned to altcoins for higher returns.

Market adjustment and potential altcoin season

In the recent market adjustment, many altcoins suffered heavy losses, and some projects even found it difficult to recover. However, analysts believe that this adjustment is a large-scale reshuffle of the market, preparing for the upcoming altcoin season. In the altcoin season, Bitcoin's dominance tends to decline, and investors turn to altcoins for higher returns.

Are we approaching the altcoin season?

The market currently seems to be following the five-step pattern of analysts. Despite recent deviations in the market structure, especially the break below the bull support band and ascending support line, analysts believe that the structural trend of the market remains unchanged. Historically, these support levels have remained stable in previous cycles, but the recent break indicates that the market dynamics may change.

Market Await Breakout

Despite some deviations in the market, the altcoin market still needs to rise further to confirm the bullish trend. Ethereum, as a bellwether of the market, has not broken below its lows, showing greater bullish potential.

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