Ash Crypto, a famous crypto analyst on X, anticipates the onset of Alt Season 2.0, following a surge in the Altcoin market since January 2024. The current market conditions appear favorable for investment and price increases with a retracement of 28%. Altcoins, which include all cryptocurrencies excluding Bitcoin, have witnessed a pullback but are holding above the $537 billion market cap threshold, previously identified as a resistance level. Despite rebounds, altcoins must break the pattern of reaching weekly highs early in the week.
However, indicators hint at selling-side pressure on Bitcoin, which could hinder significant upward movement by bulls. In the term, as per Ash Crypto’s perspective, maintaining stability around this support level is crucial as the market remains range-bound while monitoring positive signals like changes in Bitcoin’s dominance and ETH/BTC performance. Despite any setback, there is unanimous optimism regarding prospects for altcoins in t
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