Altcoins
Altcoin Rise on the Horizon: Analyst Predicts Bullish Crossover
Prominent crypto analyst Mags has revealed new altcoin concepts that can significantly change the situation. In a recent article on X, the analyst mentioned that the digital currency space is likely to see a transition soon, and this transition could be the next big altcoin season.
Here, Mags focuses on the ETH/BTC pair because it is the main ratio that traders and investors pay a lot of attention to. The ETH/BTC ratio can be considered the simplest model that has been used historically as an indicator of alcoin trends.
Altcoin Boom Signal
The analyst pointed to a technical signal that in previous cycles paved the way for the altcoin boom, as well as the monthly MACD crossover on the ETH/BTC pair. Referring to history, Mags said that during the previous market cycle, the bullish MACD crossover on the ETH/BTC monthly chart was followed by an excellent alt season.
This change started the trends of several altcoins and helped investors who anticipated such events make a lot of money. The analyst’s comprehensive analysis highlights the possibility of a similar crossover and means the market is primed for the target.
The MACD is a known and accepted technical tool that helps identify changes in the strength, short-term trend direction, momentum and duration of the stock price. The MACD bullish crossover is established when the MACD line crosses above the signal line, then a bullish trend can be expected. The same type of crossover in the past made it possible to estimate the ETH/BTC level and determine that investor confidence in Ethereum compared to Bitcoin is increasing, investments in altcoins and interest in them.
The ETH/BTC pair is expected to give another bullish MACD crossover according to Mags. If it comes in this form, this development can trigger a good altcoin run in the market that resembles the last cycle. This expectation of such a crossover has already attracted the interest of traders and investors, so many are waiting and wondering if this time it will be similar to the past time, and if it will be different.
Even though its exact timing and the effect of the MACD are yet to manifest, the crypto community is eagerly awaiting the new alt season that the new alt season might bring. As always, several factors are likely to intervene, making the unpredictable market and therefore requires priority attention and planning.