Altcoin investors have been unhappy for a long time. Bitcoin (BTC) 
$66,111 price was at $57,666 at the time of writing, approaching its daily peak of $58,000 again. The decline that started after the opening of the US markets has temporarily halted. But what can investors expect for the altcoin market in a broader timeframe? What do the current BTC and ETH chart analyses indicate?
Is the Altcoin Surge Starting?
Today, we will discuss the latest views of three different cryptocurrency analysts on the markets. The first expert, known by the pseudonym Mikybull, is optimistic about altcoins in general. Many altcoins, which fell below their 2023 lows, failed to attract enough buyers. As a result, we still see that significant support regions haven’t been reclaimed.
However, Mikybull shares a chart indicating that altcoins are about to transition into the anticipated phase for a long-term rise.
“This is truly a macro bottom. The expansion phase is about to start!”
Bitcoin (BTC) and Ethereum (ETH)
What needs to happen first for the altcoin market to experience a surge? Certainly, BTC must reach its true peak, and ETH must begin its long-desired upward movements. After BTC reaches its peak, the most parabolic period of the altcoin bull run begins when ETH and other major altcoins undermine Bitcoin’s market dominance.
An analyst known by the pseudonym Stockmoney Lizards updated the short-term outlook for Bitcoin (BTC) and wrote the following;
“Liquidity zones, resistance, and potential short-term outlook.
We have two main resistance levels: 58,000 and 59,500 – 60,000. Both are high-volume areas
We are being rejected at the 100 EMA (4 hours)
The short-term downtrend continues unchanged for now, and we might see a retest of the last lows (53k).
The outlook turns bullish when $60,000 is reclaimed.”
BTC was trying to reclaim $58,000 at the time of writing, and if successful, $60,000 could be tested again.
An analyst known by the name Leevis highlighted the risk of ETH losing its current support level and shared concerns about a drop towards $2,120.
If ETH manages to stay above $2,360 as it did at the time of writing, this could pave the way to focus on the main target of $2,420.
