Current market situation
Bitcoin Dominance (BTCD): is at around 58.6%, which is above the threshold value of 45%, usually associated with the beginning of altseason.
Altseason Index: is at 48, indicating a neutral phase between Bitcoin dominance and altcoins.
Fear and Greed Index: is in the "fear" zone at 32, indicating a cautious sentiment among investors.
Technical analysis of key altcoins
Ethereum (ETH): an "inverted head and shoulders" pattern is forming on the weekly chart, which may indicate potential growth to $7,724.
Solana (SOL): is forming a "bullish flag" on the weekly chart with a potential target of $310.
XRP: also shows a "bullish flag" on the weekly chart with a possible target of $5.04.
Prospects for altseason
Analysts predict that 2025 may be the year of altcoins, especially in the second half of the year, provided that Bitcoin dominance decreases and investor interest in altcoins grows.
Recommendations for traders
Monitoring BTCD: a decline in Bitcoin dominance below 50% may signal the beginning of altseason.
Analysis of ETH/BTC: the growth of this pair may indicate strengthening positions of altcoins.
Tracking trading volumes: an increase in volumes for altcoins may indicate growing investor interest.
Market sentiment assessment: an increase in the fear and greed index above 65 may indicate a strengthening of "greed" and potential market growth.
Overall, while some technical signals suggest potential growth for altcoins, current market indicators do not confirm the onset of a full-fledged altseason. It is recommended to continue monitoring key indicators and be prepared for possible changes in market dynamics.
