- Bitcoin supertrend support holds strong.
- Altcoins show a bullish, explosive altseason pump signal.
- The greater altseason run ever is on the horizon.
The crypto market continues its sluggish sideways movement in lower price ranges, with Bitcoin (BTC) the pioneer crypto asset trading at the $113,000 price range and Ethereum (ETH) , the pioneer altcoin asset trading at the $4,300 price range. Despite low prices, the crypto community remains optimistically bullish as the Bitcoin supertrend support holds strong and as altcoins show bullish, explosive altseason pump signals.
Bitcoin Supertrend Support Holds Strong
The price of the pioneer crypto asset, Bitcoin (BTC) , is presently trading at the $113,000 price range, which is over 8% away from its latest ATH record of $124,457.21, set 7 days ago. Soon after this ATH was set, the price of BTC declined almost immediately, retracing to lower prices under $115,000. During that week, the price of BTC has been trading in a sideways movement and failing to break past the $115,000 price range once again.
At the same time, the price of the Pioneer altcoin Ethereum (ETH) reclaimed the $4,700 price range, just short of its previous ATH price set 4 years ago in the $4,800 price range. Led by Bitcoin’s sudden price drop, the price of Ethereum also fell to the 4,100 price range and is now trading around the $4,300 price region. Despite the dip, the price of ETH continues to outperform BTC.
Presently, analysts have noticed many signs pointing to a further drop in Bitcoin Dominance , meaning ETH and altcoin dominance could soon take over. While this outcome is expected, the timeline is yet to be determined. At the moment, analysts expect greater price drops for the crypto market, with September leading to BTC price falling below $100,000. Market sentiment is expected to recover after the September correction.
Having said that, analysts are keeping a close eye on BTC and altcoin price charts to try and predict which way the market will swing and if there will be a pump before the dump to maximize gains or hedge risks. Based on the post above, this reputed crypto analyst shares a Bitcoin (BTC) price chart where he highlights how the price is moving into the expected range and expects the supertrend support to hold.
Altcoins Show Bullish Explosive Altseason Signs
As we can see from the post above, this reputed crypto analyst shares a bullish indicator brewing on the chart shares on the post and says that if the double top (USDT-Dominance) indicator breaks to the downside, it will trigger the biggest part of the altcoin season in this cycle. Thus, if this pattern plays out, the bull phase of the cycle’s altseason could finally arrive, feeding bullish expectations.
