DogWifHat ($WIF) fell by 30%, Shiba Inu ($SHIB) fell by 40%, and Pepe ($PEPE) fell by 35%. These significant adjustments have led investors to question the likelihood of an upcoming altcoin season.
In this downturn, Altura ($ALU) stands out as a potential leader for the next altcoin rebound. Despite challenges in the broader market, ALU shows a bullish trend, forming a descending wedge pattern that typically precedes significant price breakthroughs. Let’s delve into the current market analysis of these altcoins and explore why $ALU may defy the current trend.
DogWifHat ($WIF) bounces from key support levels
DogWifHat ($WIF) has just bounced after dropping to a key support level around $2.00. Analysts note that this support has historically provided a critical area for $WIF, and the bounce suggests that the token may have hit bottom.
$WIF's next major resistance level is $2.15. If the price can break through this level, we may see more upward potential; however, if DogWifHat fails to hold above the $2.00 region, we may retest the $1.80 range.
Shiba Inu ($SHIB) faces a market outflow of $3.2 million
During a significant outflow of funds, the market saw Shiba Inu ($SHIB) drop 40%. Demand for SHIB worth $3.2 million has been removed from the system, and the outflow indicates a decline in whale participation. This is a sign of decreasing investor interest and reduced on-chain activity. However, the increasing popularity of Shibarium brings hopes for a reversal.
$SHIB's important support level is at $0.000022, while the resistance level is at $0.00003. Similarly, a revival in whale activity and increased utility of Shibarium may allow $SHIB to regain bullish momentum.
Pepe ($PEPE) price rebounds: Is the crash over?
Pepe ($PEPE) has shown signs of recovery after experiencing a sharp decline of 35%. The token is currently stabilizing around a support level of $0.000017, which has historically been a key level for PEPE's price movements. The key resistance levels for $PEPE are $0.000028 and $0.00003. Momentum indicators suggest that if bullish sentiment persists, an upward movement may occur, but failing to maintain the current support level could lead to further declines.
Altura ($ALU): A highlight in a bear market
Despite many altcoins struggling, Altura ($ALU) stands out as a potential leader for the future altcoin rebound. Unlike $WIF, $SHIB, and $PEPE, $ALU has shown resilience. It is currently forming a descending wedge pattern, a historically bullish technical indicator. A descending wedge typically precedes explosive price movements, and $ALU is no exception. With strong fundamentals supporting its ecosystem and a growing community, $ALU is fully capable of breaking new highs. As other altcoins face difficulties, the potential for a breakout gives investors reason to closely watch this project.
Will the altcoin season happen?
Yes, the altcoin season may be approaching. Experts are very optimistic about the outlook for Q1 and Q2 of 2025, which historically represents a strong performance period for altcoins. This optimism is being driven by macroeconomic factors, increasing adoption of blockchain technology, and the cyclical nature of the cryptocurrency market. At the forefront of this anticipated bullish wave is Altura ($ALU). With its strong technical structure in a descending wedge pattern and growing fundamentals, $ALU is expected to lead the next altcoin season.
Analysts expect $ALU to break new highs, laying the groundwork for a broader recovery in the entire altcoin market. Other major altcoins such as DogWifHat ($WIF), Shiba Inu ($SHIB), and Pepe ($PEPE) are also expected to rise as market conditions improve. While these tokens are currently testing support levels, the upcoming altcoin season could provide the momentum needed to recover previous highs and potentially exceed them. In short, the altcoin season is not a question of 'if' but 'when.' With Altura ($ALU) leading the way, market conditions are bullish for Q1 and Q2 of 2025, and now may be the time to prepare for an altcoin explosion.
