Last weekend, the altcoin market experienced notable activity. Cryptocurrencies like Solana 
$242 (SOL), XRP, Cardano 
$0.733926 (ADA), and TRX recorded price increases ranging from 15% to 90%. While Bitcoin 
$92,643 and Ethereum 
$3,115 remained relatively stable, the surge in altcoins raised the question among traders: “Has the altcoin season started?” However, Ethereum’s struggle to surpass the $3,000 level is seen as a critical threshold for a complete market rally.
Indicators for Altcoin Season
Market experts suggest that a true altcoin season has not yet begun. According to QCP Capital, historically, altcoins tend to perform better during consolidation periods following significant rallies in Bitcoin and Ethereum. Currently, Bitcoin dominance stands at 60%. Analysts assert that for an altcoin season to be confirmed, this percentage needs to drop below 58%.
Solana, in particular, caught attention with a 17% rise last weekend, managing to maintain the critical $240 price level. QCP Capital analysts noted that former U.S. President Donald Trump’s pro-crypto stance has fostered positive sentiment among traders, potentially increasing expectations for an altcoin season. Additionally, Bitcoin is reportedly making strides toward the $100,000 target, with its strong performance possibly supporting the future movements of Ethereum and other altcoins.
Ethereum’s Performance is Crucial for Altcoin Rally
Ethereum’s price has yet to reach expected levels. It peaked at $3,444 in early November, followed by a 10% pullback. Analyst Ali Martinez emphasized that Ethereum is finding strong support at the $3,000 mark, with 2.82 million addresses accumulating 6.14 million ETH in this range, which is thought to provide price support.
Projections regarding Ethereum’s future are also promising. The logarithmic regression model predicts that ETH could rise to $9,200 by mid-2025, with a possibility of reaching $17,600 based on historical trends. An analyst known as Venturefounder mentioned that Ethereum’s price range is narrowing, suggesting it could hit these levels by 2025.
Recent interest from institutional investors is further fueling expectations for an altcoin season. If Donald Trump returns to the presidency, positive changes in crypto policies are anticipated, which may reignite interest in altcoins, particularly Ethereum. The increasing demand for spot Ethereum ETFs and the continuation of net positive inflows support this outlook.
Strong support levels for Ethereum and the upward trend of Bitcoin serve as fundamental indicators for an upcoming altcoin season. Traders continue to closely monitor market conditions and Ethereum’s performance.
