Popular crypto analyst Moustache, with over 70k Twitter followers, issued an enthusiastic altcoin prediction this week, citing technical signals that point to a coming “parabolic run.”
“Altcoins look like they want to repeat 2017. I’ve been trying to prepare you for this scenario for over a year,” Moustache tweeted, pointing followers to past analysis. “There is no second chance. This coming wave will be brutal and make crypto a lot more popular.”
In a following tweet, he called attention to one of his “favorite indicators” on the Ethereum monthly chart. Ethereum underpins much altcoin activity, so its technical patterns can foreshadow moves in smaller alternative cryptocurrencies.
“The last time this happened was in 2020 and triggered the bull run for Altcoins,” he noted about this ETH indicator. “Will share a chart later, but holy moly… hope you’re ready?”
Finally, Moustache explained why this Ethereum signal is so meaningful for altcoins: “A true Altseason doesn’t start until $ETH gives the starting shot. But we’re now getting that signal: First buy signal (monthly chart) for ETH since August 2020 (more than 3 years).”
He believes, based on past patterns, that this type of signal kicks off a “parabolic run for crypto.”
At the time of writing, Ethereum is trading around $2,234, up slightly on the day. Some altcoins are already running harder, like Solana which has gained 8% to yearly highs around $88.
Moustache clearly expects much more altcoin upside if Ethereum confirms the technical pattern he identified. Calling it “brutal,” he says there will be no “second chance” to take advantage of gains. With altcoins, timing trades around key signals identified by analysts like Moustache can mean the difference between 300% returns and 30% returns.
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