Altcoins Set A Higher Low – Bulls Target 2024 High To Trigger Altseason

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Altcoins Show Bullish Signals as Market Eyes Altseason

Altcoins are gaining momentum after years of underperformance against Bitcoin, with key technical indicators suggesting a potential shift toward a broader market rally.

Altcoin Market Recovery

Total 2 (altcoin market cap excluding Bitcoin) has surged 35% since April, marking one of the strongest rebounds in years.
Analyst Daan notes a higher low formation on the Total 2 chart, a bullish signal indicating accumulation at rising price levels.
A confirmed higher high could signal the start of altseason, with altcoins still 50% below all-time highs.

Ethereum’s Pivotal Role

Ethereum (ETH) is consolidating between $2,400–$2,700, with a breakout potentially sparking a broader altcoin rally.
ETH/BTC pair shows early signs of accumulation near 0.023 BTC, but a breakout above 0.025–0.027 BTC is needed to confirm a trend reversal.
Historically, ETH outperforming BTC is critical for altseason, as it draws capital into smaller altcoins.

Key Levels to Watch

Total 2 must reclaim its 2024 high to confirm a bullish market structure.
Macro stability and improved risk appetite could fuel further altcoin gains.

The market remains in a holding pattern, but accumulating strength in ETH and altcoins suggests a potential breakout. If key resistance levels are breached, a sustained altseason could follow.

Featured image from Dall-E, chart from TradingView

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