🤗😲 🚨🚀 Altcoin Market Cap Poised for Breakout: When to Expect the Next Altseason

The cryptocurrency market is gaining momentum, with $BTC Bitcoin surpassing $68,000 and $ETH Ethereum breaking through $3,800. This surge has strengthened altcoins, led by memecoins like $PEPE and #FALOKI , reigniting hopes for an imminent Altseason. Historical market analysis suggests a potential breakout in the altcoin market cap, mirroring the 2022 bear market rejection and subsequent upswing.

The weekly altcoin market cap chart indicates a completed retracement phase, paving the way for a fresh upswing potentially exceeding $1.4 trillion. Ethereum, considered the mother of all altcoins, has stabilized, reviving hopes for a revival of the previous pattern. Analyst Moustache notes striking similarities between the 2020 and current trade setups on Ethereum's monthly chart, including RSI patterns, retests, and crucial support levels. This convergence hints at an impending strong Altseason.

The focus now shifts to Bitcoin's price rally, stuck between $68,000 and $70,000. A decisive bullish move beyond the pivotal $72,000 resistance could propel Ethereum beyond $4,500. With prices nearing their respective all-time highs, market participants are expected to gain confidence in the emerging trend. This could trigger a final upswing toward new all-time highs, initiating a fresh Altseason, potentially in the last quarter of the year.

In conclusion, the altcoin market cap is consolidating before a potential breakout, mirroring historical patterns. Ethereum's stability and Bitcoin's price rally will likely dictate the timing and intensity of the next Altseason. Market participants should remain vigilant for a decisive bullish move, potentially signaling the start of a new Altseason.