Altcoin
Altcoin Season Likelihood Grows As The Alt Market Makes A Key Cross, Breakout Looming?
An altcoin season occurring in this current bull market cycle has become a heated topic in the crypto sector lately, with uncertainty observed among the majority of crypto enthusiasts. Even though altcoins have been performing significantly bearish in the past few months, recent developments in the alts market raise the possibility of an altseason as a breakout could be on the horizon.
Key Cross Forms In Altcoin Market Cap
After facing heightened volatility in the past few months, the altcoin market might be gearing up for a significant and promising move. Titan of Crypto, a crypto analyst and trader delving into recent performances has outlined that the market is currently flashing bullish signals.
The expert points to bullish signals as the market forms a key technical cross, particularly the Golden Cross, which shows that upside momentum is building. A golden cross usually forms when short-term moving averages cross above long-term moving averages, reflecting a possible change from a bearish trend to a bullish trend.
While Bitcoin dominance might be reducing, investors may be diverting their focus toward alts, leading to a positive setup in the altcoin market. Should this key structure strengthen, alts market might experience an encouraging move in the upcoming weeks.
Considering the formation, Titan of Crypto predicted that a rally could be on the horizon. His prediction is based on past cycle trends, whereby the market topped out about 42 weeks after witnessing a golden cross.
As the golden cross reappears, the expert suggests a similar development would occur in the ongoing cycle. In the event that it mirrors past rallies, Titan of Crypto believes that the market could rise about $6.6 trillion in the upcoming months.
It is important to note that this golden cross marks its first instance since the first quarter of 2021. Ted Pillows highlighted that the last time this happened, the altcoins market cap jumped by over 500% in the next few months.
Given the past growth, the market may be poised for a 500% growth or more than before the current bull market ends. Due to the shift in market dynamics, the expert claims that the altseason appears to be an imminent reality.
Cup And Handle Formation Hints At A Breakout
Examining the altcoin market excluding BTC, Milkybull Crypto, an economist and analyst has spotted a bullish Cup and Handle formation. Typically, a cup and handle pattern signals a potential upside breakout after a period of downward trend.
As a result, the expert is confident that a significant breakout is imminent, stating that “altcoins real fun is about to start.” MilkyBull Crypto also foresees a rally for alts due to a formation on the ETH/BTC chart.
According to the analyst, ETH/BTC has broken out of a triangle pattern in the 1-day time frame, indicating a possible upsurge for alts. In another post, MilkyBlly Crypto highlighted that the market has formed a macro bottom. After this, the analyst expects the much-anticipated altseason to begin.
Featured image from iStock, chart from Tradingview.com
The crypto industry has plunged into another severe slump, with its total market capitalization plummeting to $3.13 trillion- a decline of 0.84%. As a result, top assets are witnessing substantial losses. In line with the trend, Solana has experienced severe declines, with the SOL price decreasing by more than 35% over the last 30 days.
Notably, Solana’s current dip is driven by Binance’s massive SOL selloff. Adding to the momentum, analysts predict that the SOL price could further plunge to $100.
Will SOL Price Plummet to $100? Here’s What You Should Know
Currently, Solana is trading in the red zone, marking a decline of 6.69% in a day. As the token is now trading below $160, there is a possibility that the SOL price could fall to $100. For instance, analyst Crypto Beast alerted investors and traders against Solana’s potential slip to $100 via his X post.
Notably, $154 is identified as a critical support level for the SOL price. If Solana breaks past the level, SOL could reach a significant high of $340. However, as per the prevailing sentiment, a failure to maintain the support level is more likely, which could pull the price down to $100.
What Does Binance’s SOL Dump Signify?
In a surprising development, crypto exchange Binance has been dumping massive amounts of Solana over the last few hours. Through Wintermute, Binance sold about 100,000 SOL, worth around $15.6 million, fueling concerns within the community. While the community is drawn between the thoughts of a possible bullish rally or an imminent bearish turn, analyst Crypto Jessica wrote, “Does this massive withdrawal signal bullish confidence or preparation for a market shift in Solana?”
Though Binance’s intention is unclear, their move is undoubtedly precautionary or a harbinger of something. Perhaps it could be the onset of a bear market or another massive breakout that could propel the SOL price to outstanding records.
Traders and investors are exercising caution as Solana teeters around its crucial support level of approximately $157. The token’s success or failure in maintaining this level will likely define the future of the SOL price. However, if the SEC approves the Solana ETF, it could significantly push the SOL price to new heights.
Will SOL Price Surge Past $157 to Escape the Bearish Pressure?
As identified by many analysts, $157 marks a major support for SOL price. As Solana hovers around the level, there are two possible scenarios. The token could either break past the point or slip below the mark.
If SOL can stay above $157, it might indicate a positive future for the price. But if SOL falls below $157, it could lead to a significant decline.
As of press time, Solana is trading at $158.72, marking a weekly decline of 14.54% and a monthly dip of 36.64%. Despite the dip, traders are increasingly involved in the market activity, which is evident by the staggering 144% surge in the trading volume. Boasting a volume of $3.73 billion, Solana is ranked 6th on CoinMarketCap, with a market cap of $77.84 billion.
Nynu V Jamal
Nynu V Jamal is a passionate crypto journalist with three years of experience in blockchain, web3, and fintech spheres. She has established herself as a knowledgeable and engaging voice in the cryptocurrency and blockchain space. Her experience as an Assistant Professor in English Language and Literature has further added to her quest for crafting informative, well-researched, and accessible content.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Binance unveiled a vital update on the tokens KAITO, SOL, ETH, BNB, TST, TRUMP, and TRX this Monday, nabbing investor attention globally. The crypto exchange behemoth is expanding spot trade offerings for these tokens whilst also adding new trade services for them. In response, market sentiments about the coins’ long-term prospects turned bullish among traders and investors.
Binance Spot Expands Offerings For These 7 Crypto
In an official announcement dated February 24, Binance Spot Trading revealed that it is adding seven new trading pairs for its users on February 25 at 08:00 UTC.
Here Are The New Spot Trading Pairs
- KAITO/BRL
- SOL/ARS
- BNB/ARS,
- ETH/MXN
- SOL/MXN,
- TRUMP/BRL
- TRX/FDUSD
- TST/TRY
What’s More In The Binance Announcement?
Additionally, the leading crypto exchange also revealed that ‘Trading Bots’ services for these pairs will commence on the same date and time. Also, ‘Spot Algo Orders’ for the abovementioned pairs will be available for users.
For context, ARS, BRL, MXN, and TRY are fiat currencies, with the exchange expanding regional trade offerings for the abovementioned tokens. As a result, market sentiments over future price prospects remain bullish as increased investor participation and trading could boost the coins” tokenomics.
Binance further added that the decision to add new trading pairs comes to enhance users’ trading experience.
How Are These Crypto Performing Amid Binance’s Listing?
KAITO
Following the Binance announcement, KAITO price was up by nearly 14% in the past 24 hours, closing in at $1.73. The coin hit a bottom and high of $1.45 and $1.75 intraday.
SOL
Solana price slumped nearly 8% amid broader crypto market volatility and exchanged hands at $156.91. The coin’s intraday low and high were $155.70 and $171.28, respectively.
ETH
Ethereum price dropped by 5% over the past day and rested at $2,675. The coin hit a bottom and peak of $2,666.28 and $2,850.61, respectively.
BNB
BNB price also cracked 4% intraday and closed in at $637.83. The coin’s 24-hour low and high were $636.51 and $662.35, respectively.
TRX
TRX price was up by 2% over the past day, trading at $0.2463. Its intraday bottom and peak were $0.2418 and $0.2471.
TRUMP
TRUMP price slumped 8% intraday and exchanged hands at $14.99. The coin hit a low and high of $14.93 and $16.25 in the past 24 hours.
Despite most of the tokens trading in the red zone today, market watchers remain optimistic about future performances amid Binance’s enhanced support. The coins’ prices could potentially gain ahead due to increased market exposure and thus money influx into their ecosystems.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
The cryptocurrency market has experienced another downturn, with top cryptocurrencies Bitcoin and Ethereum facing challenges in sustaining their momentum. Currently, the Bitcoin (BTC) price is around the significant $95k mark while Ethereum (ETH) is struggling to surge past $2,800.
Notably, the recent crypto market downturn, with a 1.65% drop in total market cap to $3.15 trillion, is largely attributed to major security breaches like the Bybit and Infini hacks. However, analysts and enthusiasts are confident that these cryptocurrencies will bounce back once the hacked funds are recovered.
Bitcoin and Ethereum Prices See Deep Declines Today: What’s Happening?
As of press time, Bitcoin is trading at $95,896, with a daily decline of 0.64% and a 7-day dip of 0.25%. At the same time, Ethereum price is at $2,725, marking a decrease of 3.50% over the last 24 hours despite a marginal surge of 1.46% in a week. In the last 30 days, both tokens have suffered significant losses, with declines of 8.8% and 17.16%.
Despite the current dip, analysts remain bullish about these tokens’ future performances. For instance, a technical analyst known on X as CarefreecryptoG shared a bullish analysis in a recent X post, predicting that this week is interesting for BTC. Identifying the formation of a symmetrical triangle in the 1 hour-BTC chart, the analyst pinpointed Bitcoin price’s possible breakout.
Meanwhile, analyst Crypto Rover presented a bullish chart for ETH, predicting its potential ascendance to a new all-time high. While Ethereum price held the legendary support line, the token has the potential to reach a new high of $9,000.
Will February be Red or Green for Bitcoin Price?
According to analyst CryptosRus, February is typically a bullish month for Bitcoin price, with historical data showing significant gains in most years, except 2014 and 2020. However, this February has been a different story, with BTC price currently posting a 6.41% loss.
❇️ February is typically a green month for Bitcoin – However, to avoid becoming the third red February in history, $BTC needs to close the month higher than 🎯$102,500 pic.twitter.com/yv1DjfWUNn
— CryptosRus (@CryptosR_Us) February 23, 2025
Nevertheless, CryptosRus suggests that February could turn green if BTC closes the month above $102,500. The post read, “To avoid becoming the third red February in history, BTC needs to close the month higher than $102,500.”
Ethereum Price to Go Parabolic in 2025 Q1
Coinvo, a crypto investor and trader, argued that Ethereum price is set for a parabolic ride during this quarter. According to past trends, Ethereum tends to experience extraordinary growth in the first quarter of every fourth year.
Specifically, in Q1 2017, Ethereum saw a 58.14% return, followed by a staggering 160.7% return in Q1 2021. Although Ethereum is currently down 17%, Coinvo believes it can rebound and yield substantial returns by the end of the quarter. Ethereum is poised to mirror Bitcoin price’s historical February rally, with a potential bullish resurgence on the horizon.
What’s Behind the Crypto Downturn? Analyzing BTC and ETH’s Bearish Trends
The recent Bybit hack, which resulted in a loss of $1.4 billion in ETH, has had a critical impact on the crypto market, pulling down prices. Though Bybit CEO Ben Zhou announced the complete recovery of the lost funds, the market struggles to rebound.
Significantly, the subsequent Infini hack has also contributed to the current downtrend. Following the Bybit hack, the neobank Infini experienced a breach, resulting in a theft of $49.5 million in USDC. After the confirmation of the crypto heist, Inifini founder Christian Li assured complete compensation.
The crypto market, including Bitcoin and Ethereum prices, continues to struggle, with prices still in the red. It remains to be seen when a recovery will take hold.
Nynu V Jamal
Nynu V Jamal is a passionate crypto journalist with three years of experience in blockchain, web3, and fintech spheres. She has established herself as a knowledgeable and engaging voice in the cryptocurrency and blockchain space. Her experience as an Assistant Professor in English Language and Literature has further added to her quest for crafting informative, well-researched, and accessible content.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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