Are We in Crypto AltSeason?
TradingView has several charts that let investors explore the technical charts of markets. For crypto investors, Coin / USDT charts are the ones that are tracked to "predict" the future actions in the digital assets. Most of the time, we focus on 4-hour, daily or weekly charts to have an idea about possible actions in the future of the cryptocurrency.
While there are some asset-focused charts, there are also some charts that track the whole market. For example, TOTAL CRYPTO is used to track the TOTAL value of the market in a single chart.
TOTAL crypto shows that the 50 months support was around 1T for crypto and we bounced back from these levels. Next target will be 1.43T 20 months average. As you can see, the previous ATH was above 3T in total.
However, this chart does not provide in-dept altsezon analysis. Rather, crypto investors watch 2 more charts that exclude either Bitcoin or both BTC and ETH from the total market valuation.
Total 2 - Excluding the King
If we want to exclude the value of Bitcoin, Total2 is here to help us.
Similar to Total chart, it retraced from MA50 support, which is 440B for altcoins' market cap, and the target is 20-month average 820B.
If both Ethereum and other altcoins gain value, the first target might be above 800B in a couple of months.
Remember, ATH for Total 2 was 1.7T in the previous bull-run.
Total 3 - Exlucing BTC and ETH
This might be the most critical chart for those who want the chart to be free from ETH's market cap, as well.
Let's look at the chart in the weekly timeframe:
As you can see, we are above 200 weeks, 50 weeks and 20 weeks moving average. However, interestingly, the chart shows that the moving average is below 128 weeks moving average level.
Looking at the chart, we can say that getting MA 200 support is a good thing. RSI is above 55 level, at the same time. I, personally, expect some more green days for altcoins if the trend is not reversed. Bitcoin's 2x performance may start to feed the altcoins in a mini accumulation phase for it.
What do you think about that? Is ALTSZN here yet?
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I think once btc rally is over and it goes into consolidation area, we will have a alt season
not sure for how long
The chart looks promising and the sentiment in the market is in this direction. I expect more green days to be honeset
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It's quite unlikely that ALTSZN is here yet. BTC and ETH are still taking up most of the market hype for now.
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Sure thing that the market is not satisfied with the price of BTC and ETH. However, we all expect a "mini" altsezon while BTC and ETH move a bit side-way before another leg IMHO
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Great overview and insights!
I think so this is going to big rally for Altcoins... If you see BTC, it's RSI is on all time high since 2021 bull run where alt went real crazy
And the dominance of BTC might also make ATH but so far Alt started doing good since Ethereum is now performing.
Well, excited to experience another Altcoins rally after a wild bear market.
Tho, what's your fav Altcoins in portfolio?
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Not sure
I don't think we are in alt season just yet. In a way, I am skeptical due to all the attacks on crypto going on by the US and other governments. In a way, the alts are underperforming and I need to see some commitment on that end before I can say so.
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