When Will the Altcoin Season Start?

Cryptocurrencies like Solana (SOL), XRP, Cardano (ADA), Tron (TRX) are taking charge with 15-90% gains over the past weekend. As Bitcoin and Ethereum moved sideways amid the altcoins pump, it has raised speculation about whether it is altcoin season.

Cryptocurrencies like Solana (SOL), XRP, Cardano (ADA), Tron (TRX) are leading the charge with 15-90% gains over the past weekend.

As Bitcoin and Ethereum moved sideways amid the altcoins pump, it has raised speculation about whether it is altcoin season. However, this rally remains incomplete without the ETH price surge as the world’s largest altcoin takes some rest at $3,000.

When Will the Altcoin Season Start?

The real rally hasn’t yet started! Historically, altcoins have outperformed during consolidation phases following major rallies in BTC and ETH, as profits rotate into smaller-cap coins. QCP Capital noted that BTC dominance currently sits around 60% but would need to drop below 58% to confirm the start of an altcoin season.

In its report, QCP Capital shows that the Solana price has witnessed a quick uptick over the last weekend gaining 17%, and is holding up to the crucial resistance of $240. Analysts at QCP noted that the pro-crypto stand of the Donald Trump administration has triggered a euphoria for an impending altcoin season.

They also added that the BTC price eyes $100K amid favorable conditions. However, as the Trump administration resumes office in January, the investor appetite for altcoins could increase with the hope of favorable crypto policies.

Despite Bitcoin ETF outflows last Thursday and Friday, BTC maintains robust support, driven by institutional interest. Furthermore, top corporations like MicroStrategy and Metaplanet have continued with massive Bitcoin purchases even at $90,000 levels.

The ETH price rally is crucial for the altcoin market to fully take off. As the world’s largest altcoin, ETH price action tends to dictate the broader market trends. Currently, the ETH price is displaying a lack of momentum as it hovers around the key psychological level of $3,000.

While ETH price failed to breach the crucial resistance at $3,100, it has managed to hold above the immediate support at $2,800. This price action suggests that ETH price is preparing for the next leg up.

Technical indicators also point towards a bullish outlook for ETH price. The MACD indicator is bullish and shows increasing momentum. Additionally, the RSI indicator is in the overbought territory, suggesting that ETH price is due for a correction. However, the overall trend for ETH price remains bullish.

Solana Price Surges 17% XRP Price Witnesses 80% Gains Over the Weekend

Among the top performers, Solana (SOL) price surged over 17% last weekend and is currently trading at $237. The asset seems to be holding up to the crucial resistance and might witness a breakout soon.

Meanwhile, XRP price took the lead with astronomical gains of 80% over the past weekend. The price is currently trading at levels last seen in May 2022.

The gains follow a recent development where Ripple filed a motion to strike the SEC’s expert testimony, and as the legal battle nears its final stages, XRP price could be poised for further gains.

Solana price enjoyed a quick uptick over the last weekend, registering gains of 17%, and is currently displaying resistance at $240.

As reported by QCP, the Donald Trump administration’s pro-crypto stance has sparked optimism for an impending altcoin season.

Meanwhile, top corporations like MicroStrategy and Metaplanet continue to make massive Bitcoin purchases, even at $90,000 levels.

Despite outflows from the Bitcoin ETF last Thursday and Friday, BTC still maintains robust support, largely driven by institutional interest.

However, the world’s largest altcoin, ETH, is yet to fully participate in this rally, currently trading at $3,000 with minimal price movement.

This has sparked speculation and raised questions about whether ETH price action will hinder the altcoin season.

According to QCP, for an altcoin season to be confirmed, BTC dominance, currently at 60%, would need to drop below 58%.

Solana price enjoyed a quick uptick over the last weekend, registering gains of 17%, and is currently displaying resistance at $240.

As reported by QCP, the Donald Trump administration’s pro-crypto stance has sparked optimism for an impending altcoin season.

Meanwhile, top corporations like MicroStrategy and Metaplanet continue to make massive Bitcoin purchases, even at $90,000 levels.

Despite outflows from the Bitcoin ETF last Thursday and Friday, BTC still maintains robust support, largely driven by institutional interest.

However, the world’s largest altcoin, ETH, is yet to fully participate in this rally, currently trading at $3,000 with minimal price movement.

This has sparked speculation and

The above is the detailed content of When Will the Altcoin Season Start?. For more information, please follow other related articles on the PHP Chinese website!