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HomeAltcoinMore Altseason Signals Are Flashing, Which Altcoin Will Peak Next?

More Altseason Signals Are Flashing, Which Altcoin Will Peak Next?

“Another altseason signal has flashed, and it’s much bigger than anything you have seen,” said analyst Ito Shimotsuma on Thursday. He added that Bitcoin dominance has formed a “rare death cross, which only happens once each cycle.”

A similar pattern happened in 2016 and 2021, he said before adding, “The last two instances resulted in parabolic gains for altcoins, and I think it’ll happen again.”

Bitcoin dominance has fallen 12% from its June high of 66% to just below 58% at the time of writing. It is the largest decline in BTC market share since mid-2022.

Altcoin All-Time High Season?

Altcoins have had a solid week with record highs for Hyperliquid (HYPE), which hit a peak of $59.30 on Thursday, and Binance Coin (BNB), which topped $1,000 on the same day.

There are only two high-cap tokens that are close to record highs: Ethereum, which is 8% away, and the iFinex Leo Token (LEO), which is just 6% away from a new peak. XRP and Solana (SOL) are next in the list at 16% down from their peaks, while Tron (TRX) is 19% away from a new high.

The rest of the top thirty altcoins are still languishing between 55% and 85% down from their all-time highs, so it appears that Ethereum is likely to hit a new peak first, given its recent momentum.

Analyst ‘Colin Talks Crypto’ observed that the “Total3,” which represents altcoins and stablecoins, is breaking out, and the altcoins without including stablecoins are on the cusp of a breakout. Meanwhile, ‘0xNobler’ said that every altseason has started in September, “and this one won’t be any different.”

Other analysts noted different cyclical chart patterns that appeared to be repeating, suggesting that altseason is imminent.

Today’s Top Altcoin Movers

Most of the altcoins are flat today, but Chainlink has added 3% to reach $24.50 at the time of writing. The asset came just below $30 in December but has yet to return to that price level.

Avalanche is also performing well today with a 5.4% gain to top $35 during early trading in Asia. AVAX has surged 50% over the past month as the real-world asset tokenization narrative heats up.

Near Protocol (NEAR) is having a good run with a 12% gain on the day to top $3.20, while Immutable (IMX) has added 17%.

The post More Altseason Signals Are Flashing, Which Altcoin Will Peak Next? appeared first on CryptoPotato.

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