DogWifHat ($WIF) fell by 30%, Shiba Inu ($SHIB) dropped by 40%, and Pepe ($PEPE) decreased by 35%. These significant adjustments have led investors to question the likelihood of an upcoming altcoin season.
In this downturn, Altura ($ALU) has stood out as a potential leader for the next altcoin rebound. While the broader market faces challenges, $ALU shows a bullish trend, forming a descending wedge pattern, which typically precedes a significant price breakout. Let's dive into the current market analysis of these altcoins and explore why $ALU might go against the current trend.
DogWifHat ($WIF) rebounds from critical support level
DogWifHat ($WIF) has just bounced after dropping to the critical support level around $2.00. Analysts point out that this support level has historically provided a key zone for $WIF, and the bounce suggests that the token may have reached its bottom.
$WIF's next major resistance level is at $2.15. If the price can break through this level, we may see more upside; however, if DogWifHat fails to hold the $2.00 area, we might retest the $1.80 range.
Shiba Inu ($SHIB) faces a market outflow of $3.2 million
During a significant outflow of funds, the sell-off rate for Shiba Inu ($SHIB) decreased by 40%. $3.2 million in SHIB demand has flowed out of the system, indicating a decline in whale participation. This is a sign of waning investor interest and reduced on-chain activity. However, the increasing popularity of Shibarium brings hope for a reversal.
$SHIB's important support level is at $0.000022, while resistance is at $0.00003. Similarly, a revival in whale activity and increased utility of Shibarium could allow $SHIB to regain bullish momentum.
Pepe ($PEPE) price rebound: Is the crash over?
Pepe ($PEPE) has shown signs of recovery after a significant drop of 35%. The token is currently stabilizing near the support level of $0.000017, which has historically been a key level for PEPE's price movement.
$PEPE's key resistance levels are at $0.000028 and $0.00003. If bullish sentiment persists, momentum indicators suggest an upward trend may occur, but failure to maintain current support could lead to further declines.
Altura ($ALU): A highlight in the bear market
While many altcoins are struggling, Altura ($ALU) stands out as a potential leader for future altcoin rebounds. Unlike $WIF, $SHIB, and $PEPE, $ALU shows 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, $ALU is fully capable of breaking new highs. The potential for a breakout gives investors reason to closely monitor this project while other altcoins struggle.
Will an altcoin season occur?
Yes, the altcoin season is approaching. Experts are very optimistic about the prospects for Q1 and Q2 of 2025, historically strong periods for altcoin performance. This optimism is driven by macroeconomic factors, the increasing adoption of blockchain technology, and the cyclical nature of the crypto market. Altura ($ALU)
At the forefront of this anticipated bullish wave. With its strong technical setup in the descending wedge pattern and growing fundamentals, $ALU is expected to lead in the next altcoin season. Analysts anticipate that $ALU will break new highs, laying the groundwork for a broader recovery in the entire altcoin market. As market conditions improve, other major altcoins like DogWifHat ($WIF), Shiba Inu ($SHIB), and Pepe ($PEPE) are also expected to recover. While these tokens are currently testing support levels, the upcoming altcoin season may provide the necessary momentum to regain their previous highs and potentially exceed them. In summary, the altcoin season is not a question of 'if', but 'when'. With Altura ($ALU) leading the way and market conditions aligning with bullish trends for Q1 and Q2 of 2025, now may be the time to prepare for an altcoin breakout.