$XRP $BNB $SOL 3 charts scream ‘It’s altcoin season’ as Bitcoin dominance hits 8-week lows

Bitcoin dominance charts moving downward may be a signal that the much-anticipated “altcoin season” is finally here, analysts said.

Key takeaways:

Altcoins’ cup-and-handle pattern projects a rise to $2.78 trillion market cap, hinting at an “altcoin season.”

Bitcoin dominance below key moving averages suggests altcoins may outperform in the near term.

According to crypto traders, many altcoins are currently displaying some bullish patterns that suggest “it’s altcoin season” as Bitcoin dominance begins to drop. 

Altcoins eye “phenomenal” rally to $2.78 trillion

In the latest altcoin analysis, trader Jelle highlights a breakout from a highly bullish continuation cup-and-handle setup forming on the TOTAL3/USD weekly price chart. 

TOTAL3 refers to the combined market capitalization of all cryptocurrencies excluding Bitcoin 

BTC

$118,258

 and Ether 

ETH

$3,450

. 

Related: There’s more to Ripple than the ‘XRP Army’: Why the altcoin is a good trade

A break above the neckline of the pattern at $1.1 trillion could push TOTAL3 up by about 100% to $1.98 trillion.

“Altcoins have broken out from the multi-year cup and handle!” the trader said in a Thursday post on X, adding:

“One last hurdle to overcome, but once this clears $1.1 trillion, everything goes nuts.”#AltcoinSeasonLoading #BinanceHODLerERA