{"id":1996,"date":"2024-05-22T01:00:23","date_gmt":"2024-05-22T01:00:23","guid":{"rendered":"https:\/\/cryptd.in\/altcoins-maniac-phase-preparing-analysts-call-for-next-leg-up\/"},"modified":"2024-05-22T01:00:23","modified_gmt":"2024-05-22T01:00:23","slug":"altcoins-maniac-phase-preparing-analysts-call-for-next-leg-up","status":"publish","type":"post","link":"https:\/\/cryptd.in\/lv\/altcoins-maniac-phase-preparing-analysts-call-for-next-leg-up\/","title":{"rendered":"Altcoins \u2018Maniac Phase\u2019 Preparing, Analysts Call For Next Leg Up"},"content":{"rendered":"<p>The crypto industry has seen a positive shift with the recent market recovery. After a Q1 full of bullish sentiment, Q2 saw many sectors of the crypto space brewing a pessimistic feeling toward altcoins.<\/p>\n<p>Experts and market watchers have reassured investors that the price corrections were part of the cycle, predicting that the bullish rally would resume after the cool-off. Now, analysts consider that altcoins are about to embark on a \u201cmassive leg higher\u201d for the alt season.<\/p>\n<h2>Ethereum\u2019s Surge Refuels Sentiment<\/h2>\n<p>The crypto market is up by 8.3%, with a market capitalization of $2.55 trillion. This market surge has seen Bitcoin, the flagship cryptocurrency, soar past $70,000 in the last day.<\/p>\n<p>Similarly, the \u201cking of altcoins\u201d remarkably performed these past 24 hours. Ethereum (ETH)\u2019s price has risen 22% since yesterday, surpassing levels not seen since mid-March.<\/p>\n<p>However, ETH is yet to test its all-time high (ATH) of $4,878, set nearly two years ago. As a result, the second-largest cryptocurrency has been <a href=\"https:\/\/www.newsbtc.com\/news\/ethereum-has-been-a-major-disappointment-trader-weights-in-on-this-crypto-cycle\/\" target=\"_blank\" rel=\"noopener\">criticized<\/a> this cycle for being \u201ca major disappointment.\u201d<\/p>\n<p>In a turn of events, rumors of an <a href=\"https:\/\/www.newsbtc.com\/analysis\/eth\/ethereum-soars-20-eth-etf-rumors\/\" target=\"_blank\" rel=\"noopener\">approval<\/a> of ETH spot Exchange-Traded Funds (ETFs) have refueled investors\u2019 bullish tank, \u201cerasing 65 days of down only\u201d with a single daily candle.<\/p>\n<p>As ETH rallies, analysts believe it\u2019s only a matter of time before the whole altcoins sector surges to kick off the altcoin season. Crypto analyst Rekt Capital <a href=\"https:\/\/x.com\/rektcapital\/status\/1792918642071400945\" target=\"_blank\" rel=\"noopener\">highlighted<\/a> the \u2018Crypto Money Flow Cycle\u2019, stating that, now that BTC and ETH have rallied, \u201cit\u2019s time for Altcoins to rally.\u201d<\/p>\n<h2>Is The Altcoins Season Here?<\/h2>\n<p>During the slowdowns, market watchers have analyzed altcoins\u2019 run this cycle. Altcoin Sherpa has <a href=\"https:\/\/www.newsbtc.com\/news\/are-altcoins-cooling-off-analyst-weighs-in-on-this-cycles-market\/\" target=\"_blank\" rel=\"noopener\">stated<\/a> that many tokens didn\u2019t \u201crun that hard\u201d during round 1 of the bull run, resulting in his forecast of a 1-4 months \u201ccool-off\u201d period before resuming the uptrend.<\/p>\n<p>Despite the similarities with previous bull runs, the singularities of this cycle, like the approval of Spot Bitcoin ETFs and the Memecoin pre-sale frenzy, have made investors question whether they would see the alt season this time.<\/p>\n<p>Nonetheless, several analysts, who urged investors not to panic before, <a href=\"https:\/\/x.com\/MikybullCrypto\/status\/1792887274230702329\" target=\"_blank\" rel=\"noopener\">suggest<\/a> the community prepares for the \u201cmaniac phase\u201d ahead. Crypto Yoddha shared his chart for the 2024 altcoin cycle, stating that the dip was \u201cjust a higher low in an uptrend.\u201d<\/p>\n<p>Per the chart, the altcoins market is now looking to retest the $1.27 trillion resistance level seen in March before testing last cycle\u2019s $1.7 trillion ATH. To crypto Yoddha, \u201cwe\u2019re looking at the bullish continuation\u201d that will lead to a new market ATH during round 2.<\/p>\n<p>Similarly, Top analyst Micha\u00ebl van de Poppe, who recently sold all his BTC for Altcoins, <a href=\"https:\/\/x.com\/CryptoMichNL\/status\/1792865419138933021\" target=\"_blank\" rel=\"noopener\">stated<\/a> that the Altcoin market capitalization has finished its correction:<\/p>\n<p>The next step: reaching all-time high, which is ~60-70% from here.<\/p>\n<p>I think #Ethereum is likely reaching that in the next 2-4 months.<\/p>\n<p>Lastly, Crypto Jelle considers that \u201cAltcoins are about to embark on a massive leg higher\u201d after an 18-month accumulation period. The analyst <a href=\"https:\/\/x.com\/CryptoJelleNL\/status\/1792784061158830444\" target=\"_blank\" rel=\"noopener\">compared<\/a> the market\u2019s recent breakout to a ball being held underwater, claiming that \u201cit\u2019s time for history to repeat.\u201d<\/p>","protected":false},"excerpt":{"rendered":"<p>The crypto industry has seen a positive shift with the recent market recovery. After a Q1 full of bullish sentiment, Q2 saw many sectors of the crypto space brewing a pessimistic feeling toward altcoins. Experts and market watchers have reassured investors that the price corrections were part of the cycle, predicting that the bullish rally [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":1997,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[37],"class_list":["post-1996","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-feeds","tag-ethereum"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Altcoins \u2018Maniac Phase\u2019 Preparing, Analysts Call For Next Leg Up - cryptd.in<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptd.in\/lv\/altcoins-maniac-phase-preparing-analysts-call-for-next-leg-up\/\" \/>\n<meta property=\"og:locale\" content=\"lv_LV\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Altcoins \u2018Maniac Phase\u2019 Preparing, Analysts Call For Next Leg Up - cryptd.in\" \/>\n<meta property=\"og:description\" content=\"The crypto industry has seen a positive shift with the recent market recovery. 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