The cryptocurrency market is brimming with excitement as analysts foresee a rise in altcoin prices in the near future. After enduring long periods of decline, Altcoins are preparing for a significant breakout that could mark a pivotal moment for investors after 2.5 years. Some indicators, such as the MACD, are on the verge of crossing the zero line, setting the stage for what appears to be a significant altcoin season.
Has the Altcoin Season Begun?
This question is on the lips of every cryptocurrency investor. In response to this question, analyst Moustache today indicates the start of the altcoin season. According to him, altcoins are poised to climb to higher levels. The analyst’s emphasis is as follows:
“Altcoins will climb much higher. A breakout from a descending channel that has been forming for 2.5 years is currently happening. The MACD is also about to break the zero line. Whenever this situation has occurred in the past, an altcoin season has always followed.”
As the analyst suggests, such a development could lead to altcoins gaining value more rapidly and extensively. In fact, today’s events somewhat validate the analyst’s view, as altcoins have seen significant gains.
RAY, JUP, FIDA, and AMP Stand Out with Their Rises
There are signs today in the cryptocurrency market that an altcoin season is underway. Double-digit increases in some cryptocurrencies indicate a strong appetite in the market. Today, the RAY coin reached up to $2.79, showing an increase of nearly 100%.
JUP coin has been one of the cryptocurrencies that have attracted attention with its recent rise. Its price, especially with a relentless increase over the last five days, has become a focal point in the crypto world. The JUP price climbed up to $1.56.
A similar surge was seen in FIDA and AMP coins. The cryptocurrency FIDA reached a level of $0.72 today, achieving an increase of about 50%. Lastly, AMP became one of the stars of the day. The cryptocurrency AMP experienced a rise to $0.014472 today, recovering from the previous day’s downturn. The developments seem to justify analyst Moustache’s expectations. The continuation of the rise could signal the beginning of the altcoin season.
