According to crypto traders, many altcoins are currently exhibiting “bullish patterns,” suggesting that if these patterns play out as expected, the market could soon enter a “bullish only” period. Analyst Mustache noted that the Altcoin Season Index has been forming one of the most bullish patterns in 3.5 years. This pattern suggests that Bitcoin’s dominance may be waning and altcoins could outperform.

However, the Altcoin Season Index is currently at 39, meaning that only 39% of the top 50 cryptocurrencies have surpassed Bitcoin in the last 90 days. This rate remains below the 75% level required to declare an altcoin season.

The Stochastic RSI has produced a bullish crossover on the three-week chart, suggesting that a major altcoin rally could be imminent. The recovery of TOTAL3 supports the upward movement of altcoins. If TOTAL3 remains above the major resistance zone, altcoins could continue to rally and the expected altcoin season could begin.

This is not investment advice. Every investment and trading move involves risk; you should do your own research before making a decision. Share your views in the comments.