Altcoins have spent the past few years under the shadow of Bitcoin’s dominance, struggling to reclaim relevance as capital and attention largely concentrated on BTC. But the tide may be turning. Since April, the Total 2 — a metric representing the market capitalization of all cryptocurrencies excluding Bitcoin — has climbed 35%, signaling a potential shift in momentum toward altcoins. This recovery marks one of the strongest altcoin performances in recent years and has reignited hopes of a broader market expansion beyond Bitcoin. Related Reading: No Room For Bears: Bitcoin Bullish MACD, Monthly Close Fuel Bullish Outlook Top analyst Daan has weighed in on this development, highlighting a key technical formation: a higher low on the Total 2 chart during the recent market bounce. This structure is often seen as a bullish signal, suggesting that investors are stepping in to accumulate altcoins at increasingly higher price levels. If confirmed with a higher high in the coming days or weeks, this could mark the start of a sustainable altseason. As macroeconomic conditions stabilize and risk appetite returns, altcoins could see renewed interest from traders and investors. The next key test will be whether bulls can reclaim higher levels and flip the broader altcoin market structure definitively back to bullish. Altcoins Prepare For A Breakout Altcoins remain about 50% below their all-time highs, but bulls are setting the stage for what could be an expansive move in the coming weeks. After months of underperformance, the broader altcoin market is beginning to show early signs of structural recovery. Ethereum — the market’s leader among altcoins — has been consolidating between $2,400 and $2,700 since early May, and many analysts believe that a breakout in ETH could serve as the catalyst for a broader altcoin rally. Daan recently highlighted a key technical development: the Total 2 Altcoin Market Cap has made a higher low during the latest bounce, a structure that often precedes bullish continuation. This higher low suggests growing demand and reduced downside pressure, both of which are critical to establishing a sustainable uptrend. The key area to watch is the 2024 high setback in May. If bulls can push Total 2 above that level, it would confirm a higher high — the final piece needed to flip the high timeframe structure decisively back to bullish. That breakout would likely usher in renewed momentum across mid- and small-cap tokens, fueling what many hope will be the long-awaited altseason. For now, the market remains in a holding pattern, but signs of accumulation are growing stronger. If Ethereum can break out of its multi-month range, the altcoin market could rapidly reprice, erasing months of losses and opening the door to a new wave of capital rotation out of Bitcoin dominance. As long as key levels hold and risk appetite improves, the foundation is in place for altcoins to make a significant move higher. Related Reading: Solana Tests Rising Channel Support – Breakdown Could Send Price To $128.50 Level ETH/BTC Chart Signals Turning Point The ETH/BTC chart reveals a critical moment for the altcoin market. After a prolonged downtrend that began in late 2022, Ethereum has stabilized near the 0.023 BTC level, forming a potential bottom. While the pair remains well below the 50-week, 100-week, and 200-week moving averages—indicating continued bearish pressure—momentum appears to be shifting. Since bottoming out in mid-June, ETH/BTC has held its ground and is attempting to build a base, with early signs of accumulation. However, without a clear breakout above resistance zones, particularly around the 0.025–0.027 BTC range, bulls will struggle to confirm a trend reversal. A decisive move above these levels would be the first major confirmation of strength for Ethereum relative to Bitcoin. Related Reading: Ethereum Forms Rising Wedge Pattern – $2,200 Support Back In Focus? This breakout is essential for altseason. Historically, altcoin rallies are triggered when ETH outperforms BTC, drawing capital into mid- and small-cap tokens. Without ETH leading, altcoins tend to lag as Bitcoin dominance remains high. Featured image from Dall-E, chart from TradingView
As the cryptocurrency market experiences a notable resurgence, Bitcoin (BTC) continues to lead the charge, while altcoins—especially Cardano (ADA)—are making significant gains. Altcoins Market On The Cusp Of Change: Will Bullish Momentum Prevail? Market expert Patrick H recently shared insights on social media, stating, “The altcoins market is attempting to build a new bullish structure. Are we heading for higher levels, or is another rejection more likely?” This query shared among market players signifies the careful optimism present in the altcoin realm as it contemplates the possibilities of a trend reversal. Related Reading: XRP Eyes $11 Breakout, But A Correction Might Come First—Analyst On this matter, the expert unveiled in a recent analysis that the daily chart of the total altcoin market cap (excluding the top 10 cryptocurrencies) reveals important developments. After enduring a prolonged bearish phase characterized by a descending channel—marked by lower highs (LH) and lower lows (LL)—the market appears to be on the verge of a significant shift. In addition, recent activity indicates a breakout from this descending channel, suggesting that bearish momentum may be waning. Importantly, a higher low (HL) has formed around the $330 billion mark, establishing a critical support level, serving as the first indication of a possible bullish shift in the market’s trajectory. Currently, the altcoin market is facing resistance at the $375 billion level, where it is consolidating following the breakout. For a full confirmation of a bullish market structure shift, the market must achieve a clear higher high (HH) at approximately $400 billion. Successfully breaking this level would solidify the reversal and could lead to a rally targeting $600 billion as the next local stop. Conversely, if the market experiences a failed breakout—failing to reclaim the $400 billion mark and subsequently reversing—investors should closely monitor key support levels at $330 billion and $317 billion. A retest of the descending channel breakout could occur, and a breakdown below $317 billion would invalidate the bullish setup, signaling a potential return to the downtrend. Can Cardano Continue Its Impressive Price Climb? Over the past week, Cardano has emerged as a standout performer, experiencing a substantial price increase of 31%. This surge has enabled the ninth-largest cryptocurrency by market capitalization to regain the critical $1.11 level. In stark contrast, Bitcoin (BTC), the leading cryptocurrency, recently achieved a new all-time high of $108,000. Despite this, Cardano’s current price remains over 64% below its all-time high of $3.09, which was reached in September 2021. However, with the bullish scenarios outlined by market expert Patrick H. indicating a potential rally in the altcoin market in the coming months, Cardano and other altcoins may continue to experience upward price momentum. Related Reading: XRP Price Sets Bullish Flag Continuation On The Daily Chart, Next Stop $10? All around, the altcoins market stands at a crucial juncture. The recent breakout and formation of a higher low are promising signs, yet the path forward remains uncertain. A successful push above the $400 billion threshold is essential to confirm a bullish reversal and unlock further upside potential. Featured image from DALL-E, chart from TradingView.com
Leading cryptocurrency asset Solana (SOL) is demonstrating notable renewed price momentum as it aims to challenge several key resistance points. These crucial levels have proven vital for its next major rally to higher levels, possibly to a new all-time high in the upcoming weeks. Price Breakout To Propel Solana’s Value Amid rising market optimism, Negentropic, […]
The crypto industry has seen a positive shift with the recent market recovery. After a Q1 full of bullish sentiment, Q2 saw many sectors of the crypto space brewing a pessimistic feeling toward altcoins. Related Reading: Why Is The Ethereum Price Up 20% Today? Experts and market watchers have reassured investors that the price corrections were part of the cycle, predicting that the bullish rally would resume after the cool-off. Now, analysts consider that altcoins are about to embark on a “massive leg higher” for the alt season. Ethereum’s Surge Refuels Sentiment The crypto market is up by 8.3%, with a market capitalization of $2.55 trillion. This market surge has seen Bitcoin, the flagship cryptocurrency, soar past $70,000 in the last day. Similarly, the “king of altcoins” remarkably performed these past 24 hours. Ethereum (ETH)’s price has risen 22% since yesterday, surpassing levels not seen since mid-March. However, ETH is yet to test its all-time high (ATH) of $4,878, set nearly two years ago. As a result, the second-largest cryptocurrency has been criticized this cycle for being “a major disappointment.” In a turn of events, rumors of an approval of ETH spot Exchange-Traded Funds (ETFs) have refueled investors’ bullish tank, “erasing 65 days of down only” with a single daily candle. As ETH rallies, analysts believe it’s only a matter of time before the whole altcoins sector surges to kick off the altcoin season. Crypto analyst Rekt Capital highlighted the ‘Crypto Money Flow Cycle’, stating that, now that BTC and ETH have rallied, “it’s time for Altcoins to rally.” Is The Altcoins Season Here? During the slowdowns, market watchers have analyzed altcoins’ run this cycle. Altcoin Sherpa has stated that many tokens didn’t “run that hard” during round 1 of the bull run, resulting in his forecast of a 1-4 months “cool-off” period before resuming the uptrend. Despite the similarities with previous bull runs, the singularities of this cycle, like the approval of Spot Bitcoin ETFs and the Memecoin pre-sale frenzy, have made investors question whether they would see the alt season this time. Nonetheless, several analysts, who urged investors not to panic before, suggest the community prepares for the “maniac phase” ahead. Crypto Yoddha shared his chart for the 2024 altcoin cycle, stating that the dip was “just a higher low in an uptrend.” Per the chart, the altcoins market is now looking to retest the $1.27 trillion resistance level seen in March before testing last cycle’s $1.7 trillion ATH. To crypto Yoddha, “we’re looking at the bullish continuation” that will lead to a new market ATH during round 2. Similarly, Top analyst Michaël van de Poppe, who recently sold all his BTC for Altcoins, stated that the Altcoin market capitalization has finished its correction: The next step: reaching all-time high, which is ~60-70% from here. I think #Ethereum is likely reaching that in the next 2-4 months. Related Reading: Bulls In Control: Ethereum Longs See Biggest Candle Ever After ETF News Lastly, Crypto Jelle considers that “Altcoins are about to embark on a massive leg higher” after an 18-month accumulation period. The analyst compared the market’s recent breakout to a ball being held underwater, claiming that “it’s time for history to repeat.” Featured Image from Unsplash.com, Chart from TradingView.com
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Many investors expressed worries about the crypto market corrections during this cycle. Bitcoin’s price drop has dragged altcoins with them, and, as a result, a more pessimistic sentiment has started to brew among some sectors of the crypto community. Analysts and traders have reassured investors that the market fluctuations are a normal part of the journey. Some urge the community to look at the bigger picture, as altcoins remain above levels not seen in years. Related Reading: Traders Forecast Massive Rally For Altcoins, But Why Is Sentiment “Down”? Renowned crypto analyst Altcoin Sherpa weighed in on the matter, exploring some of the reasons and differences that make this bull cycle different from the 2020s. Time For An Altcoins Cool-Off? In an X post, Altcoin Sherpa asserted that there’s a high possibility “that altcoins are done for the next 1-4 months.” The analyst considers that, right now, most of the market needs “time to chill out and consolidate after such a big run.” Despite recently falling below the $1 trillion market capitalization, altcoins have performed remarkably in the last few months. In 2024, cryptocurrencies’ market cap, excluding Bitcoin’s, has increased by 22.79%, according to TradingView data. Altcoins market cap has also considerably surged in longer timeframes, with a 91.31% and 52.46% jump in the last six months and the past year. This “big run,” as Sherpa called it, sits the cryptocurrency market at levels like those seen in 2022. However, what worries the crypto analyst is, despite the overall performance, “many alts didn’t even run that hard over the last few months.” He illustrated his point with Chainlink’s native token, LINK. Despite the +500 days of accumulation, LINK investors only got 3-4x gains depending on when they go in. Now, the token’s price is “strongly pulling back.” Expectations for altcoins during this cycle seemingly play a significant role in the current sentiment. As one X user pointed out, LINK was anticipated to be one of the biggest winners of this cycle, Sherpa replied that he “expected more lol.” The user playfully commented, “No dino coins and new and shiny coins are the better bet.” How Did The Market Change? The previous comment highlights what appears to be a significant difference between this bull run and the 2020s. Choosing your bag has become more difficult since the market has expanded significantly. Sherpa considers that “now more than ever, it is super important to choose the altcoins that are going to run hard.” In 2020, the massive altseason made “everything go up consecutively.” This time, the liquidity is more fragmented, and “only a few sectors are pumping.” The AI and memes sectors have been the hottest topic in 2024, and layer-1 (L1) tokens, like SEI, have also performed well. “Everything else? Not great,” remarked Sherpa. The massive number of tokens, both newly launched and old ones, are finding it more difficult to “capture mindshare/attention.” Regarding retail investors, the analyst is not surprised that the default choice is memecoins instead of “trying to learn about some DeFi veRewards type of stuff. Or Oracle or L1s or modular or anything else.” The analyst suggested investors “move to real value” like ETH and SOL. He also considers that big token launches, with significant money behind them, “have some real value.” These coins, as stated in the post, have the potential to “do very well” once Bitcoin stabilizes. Sherpa’s market analysis closes with a “pretty bearish” outlook for the following months. The growing difficulty in keeping user attention and “for people to become strong users/community members” for many projects has made the market a different playground. Ultimately, the analyst pointed out that “portfolio rebalances are necessary” and said he still believes this run is not over. Related Reading: Crypto Analyst Says Don’t Buy Altcoins Just Yet – Here’s Why Altcoins market cap sitting at $981 billion in the weekly chart. Source: TOTAL2 on TradingView Featured Image from Unsplash.com, Chart from TradingView.com