As the cryptocurrency market is witnessing a growth trend, analysts are constantly giving positive information about the potential explosion of altcoins.
According to recent analysis that I have learned, collected and researched, the indicators on the price charts of many#altcoin are showing positive signals. If these signals gain strength, it is likely that the “great bull” cycle will start.
Prominent analyst Mustache shared some important insights on X on October 11, noting that “The Altcoin Season Index has formed one of the strongest bullish patterns in the past 3.5 years.” He also noted that according to Blockchaincenter’s Altcoin Season Index, we appear to be just in the early stages of this bull run.
The Altcoin Season Index has piqued investors’ interest with an inverse head and shoulders (IH&S) chart pattern forming between 2022 and 2024, indicating increasing buyer power, which could mean a decline in Bitcoin (BTC) dominance.
Despite the recovery recorded by the index, Blockchaincenter said that currently only 39% of the top 50 cryptocurrencies are outperforming#BTC☀ in the last 90 days.
Additionally, the Titan of Crypto analyst also predicted that altcoin season is approaching, as the Stochastic RSI indicator signals a potential bullish transition.
The TOTAL3 index, which reflects the market for cryptocurrencies other than BTC and Ether ($ETH), is approaching the key resistance level of $613 billion, raising hopes of a significant altcoin rally.#Write2Win
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