News
Here are the tokens that could be the biggest “buy” ahead of an AltSeason
Altcoins rise higher than Bitcoin when the star token breaks out of the range but at the same time undergoes a prolonged bearish pullbacksometimes higher than BTC price retrace. In such trading scenarios, market participants must always look for the possibility of initiating a long trade as profits tend to remain limited within a range. However, the ongoing buildup seems to end soon, which could result in the start of a new AltSeason very soon.
The historical trading pattern is found to fall within a similar range and hence the formed pattern also shows a replication of a previous trend. Before each bullish rally, the altcoin market capitalization (total market capitalization without Bitcoin) faced an accumulation phase after rising above the crucial trend reversal zone. It therefore appears that the rally is at the foot of a massive explosion that could begin any time in the next few days.
Source: X
The chart above indicates that altcoins are behaving incredibly similarly to the start of the 2021 bull run. A similar pattern of an extended accumulation period, a breakout, a final shakeout, and then a takeoff. Meanwhile, the levels are now awaiting a final takeoff after demonstrating a similar pattern. With this also emerges the possibility of a strong bull run within the market with the start of an altseason.
Some of the altcoins, especially memecoins like Pepe, FLOKI, etc., have started rising to new highs. Furthermore, Chainlink is also gaining deserved attention along with other tokens like Ondo, Near Protocol, etc. they are getting the attention they need. Meanwhile, other tokens such as Ethereum (ETH), Fantom (FTM), dogwifhat (WIF), and Lido DAO (LDO) appear to have reached the end of their accumulation. However, whales continue to be more interested in major cryptocurrencies such as Bitcoin, XRP along with Chainlink and Ethereum.
Collectively, altcoins appear to have accumulated more strength than Bitcoin and could be used when the price of BTC rises above a predetermined range. Only after BTC bulls begin to drain, the AltSeason is expected to attract mainstream attention, boosting the prices of most altcoins.