Technical Analysis

Is ALTseason Finally Back?Aug 22, 2024

ALTseason actually started already back in 2023, when we got a nice five-wave bullish impulse in the ALTcoin dominance chart with ticker OTHERS.D. It was first leg A of a three-wave A-B-C rally.
We have seen a slow down in the last couple of months along with the whole Crypto market and that’s why most of the ALTcoins came lower than Bitcoin, but we can see a corrective (A)-(B)-(C) decline within wave B with the wedge pattern within wave (C) of B that can be coming to an end.

So if we are on the right path, then seems like new ALTseason may not be far away, especially if we consider that Bitcoin and the whole Crypto market are still bullish. However, to even think about the next ALTseason, we have to see ALTcoin dominance back above 10.55%, which is first bullish evidence for a higher degree wave C.

Is ALTseason Finally Back? OTHERS.D Daily Chart
OTHERS.D Daily Chart

For more analysis like this you may want to watch below our recording of a live webinar streamed on Monday August 19 2024

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