Altcoins on the Verge of a 2016-Style Rally, Says Crypto Analyst

• A crypto analyst highlighted that altcoins are teetering on the edge of a bull market breakthrough last seen in 2016.
• The analyst said the altcoins are predicted to make the breakthrough faster than recorded in 2016.
• SOL continues to lead in price gains, with XRP, ADA, and BNB seeing muted price movements.

Following the broader market recovery, altcoins saw considerable price booms, with some major tokens notching new annual highs. While that has slowed considerably, a crypto analyst predicts that another big break may be close by. 

Indeed, the crypto analyst who goes by @el_crypto_prof on X made this prediction in a recent post. According to the analyst, altcoins are teetering on the edge of a breakthrough last seen in 2016.

“It’s time for Altcoins to break through the blue line in the RSI,” the analyst tweeted while noting that the tokens would do it in a shorter time frame. The analyst continued that back in 2016, the breakthrough was the signal for the strongest altcoin rally the market has ever seen.  

The crypto analysts’ statements mirror growing optimism in the crypto market. Fueled mainly by spot Bitcoin ETF approval speculations, many in crypto circles expect major tokens to notch new highs next year. 

Turning to cryptocurrency data tracker CoinMarketCap, data shows that the leading altcoin, Ethereum , has increased by 2.96% in the past 24 hours and currently sits at $2,092 apiece. On the weekly price chart, the token edged marginally as well. 

Meanwhile, Solana remains the clear winner among the leading altcoins in price gains. The layer-1 token, in the past seven days, has seen a 6% growth in its price. On the broader 30-day chart, SOL has added an impressive 59.21% price gain. 

Elsewhere, other top altcoins, such as XRP, BNB, and ADA, have seen more muted performances. In the past seven days, the tokens have edged lower as investors’ excitement slightly dampened.