Altseason: 3 Signals Investors Should Watch For – Analyst
The post Altseason: 3 Signals Investors Should Watch For – Analyst appeared on BitcoinEthereumNews.com. Aside from a new all-time high in the Bitcoin market, the last trading week also heralded some altseason shouts as a slight price decline by the premier cryptocurrency coincided with significant price rallies by major altcoins. A popular market analyst with the X username PlanD has weighed in on these recent market developments, highlighting three factors that would confirm the presence of an altseason. A BTC.D Retest At 63% May Mark Crucial Altseason Moment – Analyst Over the last week, a bullish rise in the altcoin market cap to $1.45 trillion sparked widespread speculations about the current status of the altseason. Interestingly, in an X post on July 19, PlanD outlines three market events that will signal the altseason’s commencement, namely a potential pullback in both Bitcoin and Ethereum, alongside a critical technical development in Bitcoin dominance (BTC.D). Following Bitcoin’s ascent beyond $121,000 and Ethereum’s price rise above $3,400, PlanD says the first two signals to watch for are healthy corrections in these assets’ prices. Specifically, the analyst explains that pullbacks toward the $111,000 and $3,250 regions for Bitcoin and Ethereum, respectively, present an ideal situation that would allow capital to rotate from Bitcoin into altcoins, effectively causing a decline in BTC.D. Far from indicating weakness, PlanD says this retracement could actually catalyze the rise broader crypto market. Notably, if Ethereum finds support at $3,250, the ETH/BTC pair could strengthen, creating a favorable setup for altcoin rallies. This is because a stronger ETH/BTC pair is often a precursor to altcoin outperformance, as it signals increased investor appetite beyond Bitcoin. The third and perhaps most pivotal signal is unfolding in Bitcoin dominance. After months of holding above a rising support trendline, Plan D notes BTC.D has broken below it, signaling a potential change in market structure. However, the next test lies…
The post Altseason: 3 Signals Investors Should Watch For – Analyst appeared on BitcoinEthereumNews.com.
Aside from a new all-time high in the Bitcoin market, the last trading week also heralded some altseason shouts as a slight price decline by the premier cryptocurrency coincided with significant price rallies by major altcoins. A popular market analyst with the X username PlanD has weighed in on these recent market developments, highlighting three factors that would confirm the presence of an altseason. A BTC.D Retest At 63% May Mark Crucial Altseason Moment – Analyst Over the last week, a bullish rise in the altcoin market cap to $1.45 trillion sparked widespread speculations about the current status of the altseason. Interestingly, in an X post on July 19, PlanD outlines three market events that will signal the altseason’s commencement, namely a potential pullback in both Bitcoin and Ethereum, alongside a critical technical development in Bitcoin dominance (BTC.D). Following Bitcoin’s ascent beyond $121,000 and Ethereum’s price rise above $3,400, PlanD says the first two signals to watch for are healthy corrections in these assets’ prices. Specifically, the analyst explains that pullbacks toward the $111,000 and $3,250 regions for Bitcoin and Ethereum, respectively, present an ideal situation that would allow capital to rotate from Bitcoin into altcoins, effectively causing a decline in BTC.D. Far from indicating weakness, PlanD says this retracement could actually catalyze the rise broader crypto market. Notably, if Ethereum finds support at $3,250, the ETH/BTC pair could strengthen, creating a favorable setup for altcoin rallies. This is because a stronger ETH/BTC pair is often a precursor to altcoin outperformance, as it signals increased investor appetite beyond Bitcoin. The third and perhaps most pivotal signal is unfolding in Bitcoin dominance. After months of holding above a rising support trendline, Plan D notes BTC.D has broken below it, signaling a potential change in market structure. However, the next test lies…
What's Your Reaction?
