Price Analysis

Altcoins Rally To Begin in 2-Months; Here Are the Top Picks

Web3 Web3 Web3 Web3 Web3 Web3 Web3 Web3 Web3 Web3 Web3 Web3 Web3 Web3 Web3 Web3 Web3 Web3 Web3 Web3 Web3 Web3 Web3 Web3 Web3 Web3 Web3 Web3 Web3 Web3 Web3 Web3 Web3 Web3 Web3 Web3 Web3 Web3 Web3 Web3 Web3 Web3 Web3 Web3 Web3 Web3 Web3 Web3 Web3 Web3 Web3 Web3 Web3 Web3 Web3 Web3 Web3 Web3 Web3 Web3 Web3 Web3 Web3 Web3 Web3

The total cryptocurrency market cap has established a consolidation range in the past few weeks, thus signaling an inevitable rebound ahead. Bitcoin’s (BTC) price has a solid support level above $61k, while Ethereum’s (ETH) has established a correction bottom of around $2,969. As a result, it is safe to assume that the medium and small-cap altcoins are experiencing the last major dip before a parabolic rally to the price discovery phase. 

Key Indicators for Altseason Ahead

Bitcoin dominance, a major indicator of the crypto cash rotation, has been signaling an inevitable reversal in the near term. Currently hovering around 55 percent, Bitcoin dominance has formed an ascending triangle with a bearish divergence on the weekly Relative Strength Index (RSI). 

A macro reversal in the ETH/BTC pair will also trigger the altseason. From a technical standpoint, the pair has been grinding down in the past few months despite a bullish divergence on the weekly RSI. 

Analyst’s Expectations on Altcoins Pump

The altcoin market cap, excluding Ethereum, has been trapped in a correction pattern in the past few weeks. However, popular crypto analyst Captain Faibik believes a rebound is on the horizon. By June, the crypto analyst is confident most of the altcoins will be experiencing a bullish breakout. 

In case of a bullish breakout, the crypto analyst expects the altcoin to rally at least 35 percent to around $900 billion.

Top Altcoins to Watch

The inevitable rise of the altcoins will mostly involve projects in Layer One (L1), Layer Two (L2), AI-focused coins, and meme coins such as Floki, Pepe, Dogecoin, and Shiba Inu.

For instance, Fetch.ai (FET), already in price discovery mode, is soon on the cusp of a major bullish uptrend.

SOURCE

Leave a Comment

EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnTEnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT EnT