At the end of last year, some people predicted that this bull market would be the world of altcoins, but during this period, the altcoin market has been up and down, without a significant surge. This is actually because this round of altcoin season is taking a long-term route, which is different from the last style. Impatient investors may feel suspicious and panic.
However, there is good news here. Today, the buds of the altcoin market have appeared. If a tree has buds, then how far is it from the blooming of all the flowers?
Let's take a look at the market trend chart of the entire altcoin:
From March to November last year, everyone who has followed and experienced the crypto market knows that it was a difficult period of more than 200 days, which both BTC and altcoins experienced. Please see the blue downward range marked in the figure.
Then around November 24 last year, the altcoin market began to recover, and leading tokens such as XRP, ADA, SUI, etc. appeared. Until Christmas last year, on December 24, the altcoin market began to decline again.
Just today, January 18, 2025, the altcoins as a whole broke out of the green resistance line and completed the backtest. I call it "the appearance of the bud". Then, it is obvious that there should be another round of gains after today.
Next, I will list some leading tokens. You will find that they have all taken a similar route to the entire altcoin market chart and have produced similar buds, such as:
$BNB
I mentioned in one of my analysis that BNB has been circling a horizontal line for more than 200 days last year.
Now let's look at the BNB chart. It has completely reached above that stubborn horizontal line.
Moreover, BNB now has a market share of 48% in global trading platforms, and Binance has nearly half of the global market share. So I am very optimistic about BNB as a platform token in the short term, and it will bloom in this alt season.
$SOL
SOL has also broken through the purple resistance line and will blossom with the rise of the entire altcoin.
On January 25, the decision on the approval of SOL's ETF will be made and announced, and this good news will make SOL bullish.
$ADA
ADA was a star in November last year, and then began to adjust downward on Christmas Day, December 24, and has just stepped out of the resistance line.
Is it the same as the altcoin market chart,right?
It will continue to rise, like a flower blooming.
$XRP
XRP is also a star token in 2024, and it is still this year. It has more momentum than ADA now. It can be seen in the figure that it broke through the resistance line earlier than other tokens. Its current price is 3.11, which is a small price adjustment, but it does not affect its future. Its future may not stop here.
chart by Yuvest
$LINK
LINK is also an investment option for many people. It is currently following a similar path and has just broken through the resistance line. The current price is 23.78. Waiting for it to bloom.
$LTC
Litecoin has also broken through the resistance line, in line with the overall pace of altcoins, and the current price is 124.9
$SUI
Finally, let's take a look at SUI, which has a different trend from the altcoin market chart.
SUI has not stopped rising since August last year, all the way up to 4.668 at this moment. From 0.45 to the previous high of 5.36, a total increase of about 12X. It has extraordinary performance and momentum.
So, SUI is now moving in a blue upward range. It may first fall below the support line for price adjustment (we may look at 3.4), and then climb up again.
Of course, it is not ruled out that SUI has the power to break out of the range and continue to move upward, but I think the former route is more likely, and we should see some signs in the next two days.
Finally, I wish all the "flowers" will bloom brilliantly in this altercoin season.