Analyst Analyzes SOL, LINK, and Others to Answer Whether Altcoin Season Is Here

Crypto analyst Cryptonary conducted an in-depth study to evaluate whether an altcoin season may be underway. He examined price action and indicators across large-cap, mid-cap, and low-cap altcoins to gauge sentiment and trends.

Starting with major altcoins like Solana, Avalanche, Polkadot, Chainlink, and Polygon, this large-cap index tripled over the past 60 days, showing substantial upside momentum recently.

However, with the index approaching key resistance between $43 and $50 coupled with overbought RSI readings, a minor correction could manifest over the coming months even if the prevailing structure remains bullish.

Transform Hundreds Into Millions With the Magic of Memecoins – think $BONK, but bigger!🤫

The key? Getting in early, especially during the IDO phase. Get in on NuggetRush now! This innovative memecoin blends play-to-earn gaming with real-world gold mining. Join soon to take advantage of the current ICO prices!

Show more +

Among mid-tier altcoins such as Cosmos, Uniswap, Kaspa, Aptos, and THORChain, prices have not surged as aggressively but are approaching significant overhead resistance around the $9.14 level.

This suggests some caution may be prudent in the near term heading into the Bitcoin ETF decision, which could mark the local top.

Finally, lower-cap altcoins such as Arbitrum, Aave, Fantom, Lido Finance, and Render Network have traded largely in line with mid-caps. With few signs of exhaustion, these smaller cap assets may continue outperforming, though Cryptonary doubts their ability to single-handedly drive market conditions.

So in summary, while substantial altcoin upside warrants optimism for what could develop into a broader rally, potential exhaustion signals heading into the imminent Bitcoin ETF ruling indicate more choppy consolidation or downside first before continuation higher.

As Cryptonary concludes, reigning in expectations makes sense despite altcoin gains that would normally hint clearly at bullish season ignition.

You may also be interested in:

Check NuggetRush ($NUGX)

Sponsored: Invest Responsibly, Do Your Own Research.
Being in its ICO stage, NuggetRush offers a prime opportunity for early investors to get in at potentially lower prices
A unique play-to-earn gaming platform in the memecoin market
The platform combines artisanal and gold mining with cryptocurrencies in an unusual gaming context, offering a distinctive and immersive experience
Fosters a strong community by encouraging physical meetups among members
NFT Integration with Prominent Characters
intelligent crypto
How are  regular people making returns of as much as 70% in a year with no risk?  By properly setting up a FREE Pionex grid bot - click the button to learn more.
Crypto arbitrage still works like a charm, if you do it right! Check out Alphador, leading crypto arbitrage bot to learn the best way of doing it.

Tags:

Rene Peters
Rene Peters

Rene Peters is editor-in-chief of CaptainAltcoin and is responsible for editorial planning and business development. After his training as an accountant, he studied diplomacy and economics and held various positions in one of the management consultancies and in couple of digital marketing agencies. He is particularly interested in the long-term implications of blockchain technology for politics, society and the economy.

CaptainAltcoin
Logo