Crypto Analyst Predicts Upcoming Altseason, Citing Historical Market Trends Seen In 2018 -21

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Cryptocurrency markets may be on the cusp of an exciting shift, according to a prominent crypto analyst who recently took to Twitter with bold predictions. The analyst’s tweet suggests that what we’ve witnessed so far in altcoin movements could be just the beginning of a larger uptrend, likening it to market structures observed from 2018 to 2021.

Altcoin Season Is Coming!!! 

According to Moustache’s tweet, the current movements in altcoins may signify the onset of a significant uptrend reminiscent of market structures observed between 2018 and 2021.

Drawing on historical parallels, Moustache suggests that we could be on the brink of experiencing the most substantial altseason in at least four years. This anticipated altseason typically involves pronounced price surges and heightened trading activity across various alternative cryptocurrencies.

#Altcoins

I'm strongly convinced that we'll see an Altseason.

-What we've seen so far was just a pre-pump
-Just take a look at the structure from 2018-2021
-Falling Wedge, backtest, RSI everything looks similar

Are we just a few weeks away from the start of a parabolic curve? pic.twitter.com/JvkP86S8nV

— 𝕄𝕠𝕦𝕤𝕥𝕒𝕔ⓗ𝕖 (@el_crypto_prof) May 9, 2024

However, the analyst points to specific technical indicators, including the formation of a falling wedge pattern and favorable RSI (Relative Strength Index) readings, as key factors supporting this bullish outlook. 

Meanwhile, the tweet poses the intriguing question: Are we just a few weeks away from witnessing the beginning of a parabolic curve in altcoin markets?

Bitcoin Consolidation Ahead

On the other hand, crypto analyst Jason Pizzino highlighted key insights into the current state of the cryptocurrency market. According to Pizzino, the longer Bitcoin remains below its all-time high (ATH) while consolidating, the higher the likelihood of a Right-Translated cycle and a significant altcoin season. 

The longer #Bitcoin remains under the ATH consolidating, the better the chance of a Righ-Translated cycle and major altcoin season. But, as always, there are always invalidation levels to watch.

Even if the market manages to break to new highs, this does not guarantee all… pic.twitter.com/FbxriFHf63

— Jason Pizzino (@jasonpizzino) May 7, 2024

However, Pizzino cautioned that even if the market successfully breaks to new highs, this doesn’t guarantee universal success for all altcoins, especially those that performed well during late 2023 and early 2024.