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

Crypto Market Today (February 24): A wave of caution engulfed traders and investors as the week kicked off, primarily as Bitcoin (BTC) price waned back to the $95K level. Moreover, Ethereum (ETH), Solana (SOL), and XRP prices also tanked 1%-5%, mimicking the flagship coin. The meme coin market also saw prices entering the red zone on Monday.

Below are price reports and the latest market updates about some of the top cryptocurrencies.

Crypto Market Today: BTC & Altcoins Reflect Volatility

CoinMarketCap’s data showed that the global crypto market cap was down over 1%, reaching $3.15 trillion at the time of reporting. This statistic underlined the broader market’s waning action today.

Also, Coinglass data showed that over $191 million was liquidated in the past 24 hours. In turn, market watchers witness price volatility today.

BTC Price Slips To $95K

As of press time, BTC price witnessed a 1% decline in value, reaching $95,534.42. The coin’s intraday bottom and peak were $95,270.45 and $96,594.97. BTC saw $25.08 million worth of liquidations over the past day. Nevertheless, the coin’s dominance was up 0.31% to 60.31%.

ETH Price Wanes 2%

ETH price dropped by 2% in the past 24 hours, closing in at $2,710. The coin hit a low and peak of $2,714.12 and $2,850.61, respectively. Ethereum recorded $46.06 million liquidated in the past 24 hours. Meanwhile, the crypto’s market dominance stood at 10.4%.

XRP Price Dips

XRP price also fell by nearly 2.5% in the past 24 hours, exchanging hands at $2.48. The Ripple-backed asset’s intraday bottom and peak were $2.49 and $2.60, respectively. XRP recorded $7.54 million worth of liquidations over the past day. CoinGape reported that Ripple’s XRP encounters key resistance at $2.60 while the price nears a breakout zone.

Solana Pulls Back 5%

SOL price plunged 5.5% in the past 24 hours and is currently trading at $160.78. The coin’s 24-hour low and high were $160.85 and $173.04, respectively. Solana recorded $15.83 million worth of liquidations over the past day.

Meme Crypto Market Mimics Volatility

Dogecoin (DOGE) price saw a 5.5% dip as of press time, trading at $0.2302. Shiba Inu (SHIB) price dropped 4% to $0.00001491. Also, Pepe Coin (PEPE) plummetted 4.5% to $0.000009024. Meme coins are mainly following the broader market trend, waning amid liquidations.

Top Crypto Market Gainers Today

Sonic (S)

Price: $0.9076
24-Hour Gains: +12%

Cronos (CRO)

Price: $0.08952
24-Hour Gains: +5%

Monero (XMR)

Price: $236.29
24-Hour Gains: +1.5%

Top Crypto Market Losers Today

Raydium (RAY)

Price: $3.24
24-Hour Loss: -24%

Hyperliquid (HYPE)

Price: $22.38
24-Hour Loss: -8%

Story (IP)

Price: $4.03
24-Hour Loss: -8%

Despite today’s volatile trend, analyst ‘Titan of Crypto’ has taken to X, projecting optimism over the market’s future prospects. “Altcoins Comeback will be legendary,” the analyst states, citing bullish market cap chart formations.

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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.