Good news for crypto investors: Has the altcoin bull run begun?
While the crypto market is on an upward trend, analysts continue to make statements about the altcoin bull run.
According to analysts, the indicators formed on the price charts of many altcoins are giving bullish signals. If the indicators are successful, it is predicted that the "only bullish" cycle will begin
Crypto analyst Mustache made important statements on X on October 11. The analyst said, "The Altcoin Season Index has been forming one of the most bullish formations for 3.5 years." Drawing attention to the indicator formed on Blockchaincenter's Altcoin Season Index chart, the analyst commented, "I think we are only entering an bullish period."
The Altcoin Season Index excited investors with the inverse head and shoulders (IH&S) chart formation formed between 2022 and 2024. The formation in question shows that the downtrend is easing and buyers are becoming more dominant in the market. The formation suggests that Bitcoin (BTC) dominance may be decreasing.
According to Blockchaincenter, although the index appears to be recovering, it is still at 39 levels. The indicator in question indicates that only 39 percent of the top 50 cryptocurrencies by market value have outperformed BTC in 90 days.
Crypto analyst Titan of Crypto stated in a post on X that the altcoin season is near. The analyst emphasized that the Stochastic RSI, a bullish indicator, has signed a cycle transition. When the indicator in question rises above the signal line, a bullish transition occurs.
The TOTAL3 index, which measures the market value of cryptocurrencies other than BTC and Ether ($ETH ), approached an important resistance point of $613 billion. The index reached the level of $603 billion.
Commenting on the appearance of TOTAL3, Cointelegraph noted the following;
âIf TOTAL3 stays above $601 billion, altcoins could continue to rally and signal the start of the much-anticipated altcoin bull run.â
#CryptoDeNostradame #ParrotBambooCrypto
