The cryptocurrency market, including popular altcoins like Ethereum (ETH) and Dogecoin (DOGE), is on the brink of a major altcoin season that could last for 217 days, according to a recent technical analysis. The analyst, Sporia, shared insights into the Total2 chart, excluding Bitcoin, indicating that maintaining critical support levels could kickstart the long-awaited altcoin season.
Top cryptocurrencies like Ethereum and Dogecoin are expected to benefit from this market shift, especially with the alignment of Fibonacci time sequences signaling a potential price surge for altcoins. Sporia’s secret weapon price chart has consistently predicted market bottoms, with the current fourth hit at a critical resistance zone further bolstering expectations for a strong altcoin season.
The analyst’s analysis also includes tracking Fibonacci-based time cycles, with the latest hit at the 3.618 level coinciding with previous market crashes, suggesting a potential market pivot. Sporia predicts that the altcoin market rally could last for 217 days, peaking by October 13, 2025, following Bitcoin’s projected cycle top, as historically observed.
In previous market cycles, Bitcoin has reached its peak before altcoins, with Sporia projecting a similar trend for this cycle. The analyst highlights the importance of the key diagonal support level in determining the market’s bottom, with a V-shaped recovery and an uptrend expected to follow if maintained. The last time the altcoin market hit the 3.618 Fib level, its total market capitalization surged to $5 trillion, further reinforcing Sporia’s confidence in a forthcoming altcoin season.
Overall, the analysis points to a potential market shift towards altcoins, with the 217-day rally forecasted to bring significant gains to the cryptocurrency market. As investors eagerly await the altcoin season, the technical analysis provides valuable insights into the market’s future trajectory and potential opportunities for investors to capitalize on the upcoming trends.