- Crypto analyst Moustache has recently unveiled charts showing two critical correlations, suggesting that a significant market shift could be near.
TON and SOL are positioned to lead the charge should the altseason commence.
As a seasoned analyst with over two decades of experience in the financial markets, I have witnessed numerous market cycles and trends. The recent stability in the crypto market is reminiscent of the calm before the storm – the onset of an altcoin season.
Despite a recent turbulent crash, the crypto market has been showing signs of a steady recovery and stabilization as of late.
In the previous 24-hour period, the total value of the cryptocurrency market dropped by about 1.56%. At this moment when the news was published, its worth stood at approximately $2.11 trillion. Simultaneously, Bitcoin‘s [BTC] influence over the market decreased by a small margin of 0.26% within that same timeframe.
The lessening influence of Bitcoin in the overall crypto market could serve as a significant sign when evaluating the power of other digital currencies, or altcoins.
As a crypto investor, I find that when the dominance of major cryptocurrencies decreases, it could signal an upcoming surge in altcoins’ value. This situation might hint at the start of an “altseason,” where alternative coins take center stage.
What an altseason means for the market
During Altseason, which is also known as “altcoin season,” we witness a vital phase in the crypto market where alternative coins (altcoins), those that aren’t Bitcoin, tend to experience substantial increases in value.
As altseason approaches, investor attention shifts from Bitcoin towards alternative coins, thus lessening Bitcoin’s control over the market and altering its overall behavior.
As a researcher immersed in the cryptocurrency sphere, I am anticipating an imminent surge in altcoins – a phenomenon often referred to as ‘altseason’. This potential upswing could significantly boost the worth of assets in the market.
The predicted market change is backed up by two significant technical alignments, which suggest a possible shift in the market’s direction.
Moustache explained,
“After being contained within a descending triangle structure for nearly nine months, altcoins seem ready to break free.”
Currently, prices are touching the bottom limit of this wide triangle-shaped pattern, which is serving as a base for potential increases. Previous market patterns indicate that when prices reach this point, they often lead to an uptrend.
The meeting of this descending triangle chart configuration with current market activity has significantly boosted optimism among traders regarding altcoins, indicating a potential price increase.
If this key factor remains stable, we might witness a dramatic surge in the cryptocurrency market, leading multiple altcoins to reach unprecedented highs or set even higher records.
In simpler terms, as suggested by AMBCrypto’s latest assessment, both Toncoin (TON) and Solana (SOL) could see substantial growth if the “alt season” starts, indicating a potentially rewarding period for investors in alternative cryptocurrencies.
Toncoin’s massive rise
As a crypto investor, I’ve been thrilled with the phenomenal growth of The Open Network (TON) since its launch. Over just five and a half months, from January 1st to June 10th, TON skyrocketed an astonishing 335.57%. What a ride it’s been!
Starting from the 11th of June, there was a slight adjustment in its market value, but it remained robust at approximately $16 billion, demonstrating its strength and growth potential.
Based on statistics from Coinglass, there was a significant surge in TON‘s Open Interest. It jumped from approximately $912,340 on July 29th to an impressive $20,170,000 by August 21st. This substantial increase suggests a robust bullish sentiment within the market.
Given the possibility of an upcoming altcoin surge, this optimistic trend might boost the cost of TON even more, possibly escalating to around $20 at the maximum point in the market.
Solana looks ready!
As a researcher, I am confidently asserting that Solana is poised for a significant surge as we approach the altseason. From June 2023 onwards, Solana (SOL) experienced an astounding growth trajectory, skyrocketing from a modest starting point of $12 to reach a peak of $210 by January 2024 – that’s an impressive 1542% increase in a short span of time.
According to AMBCrypto’s latest findings, Solana (SOL) experienced a period of consolidation—or slowing down of price movements—from January through August.
Based on my years of experience in the financial markets, it seems that whales – the large-volume traders – are positioning themselves to take advantage of a potential market upturn. I’ve learned over time that these players often make moves ahead of significant price movements, so their accumulation of assets could be an indication of an upcoming bull run. It’s always fascinating to observe and learn from the strategies employed by such traders in the ever-dynamic world of finance.
As an analyst, I can attest that my analysis, supported by the Accumulation and Distribution tool, shows a clear pattern in Solana’s behavior. Specifically, Solana has consistently established higher peaks in its price trajectory, indicating a positive trend in its market performance.
Read Toncoin’s [TON] Price Prediction 2024 – 2025
Such key indicators predict a significant surge in SOL’s price as demand escalates.
With altseason picking up speed, there’s a strong possibility that Solana (SOL) will soar to unprecedented record highs in its trajectory.
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2024-08-21 18:16