Altcoin Price Charts Show Strong Bullish Indicators, Could a Repeat of the 2017 Rally Occur Soon?
Altcoin price charts show strong bullish indicators.
Could a repeat of the 2017 rally occur soon?
ETH, XRP, and many other altcoins are preparing for a bullish surge.
The crypto market continues to see stagnant sideways movement for the pioneer crypto asset. Meanwhile, several altcoin price charts show strong bullish indicators, leading to a high possibility for the altseason peak phase to play out soon. These observations are leading many altcoin analysts to consider a possible repeat of the 2017 altcoin price rally to occur soon.
Altcoin Price Charts Show Strong Bullish Indicators
As the price of Bitcoin (BTC) continues to trade sideways in the $65,000 price range, the price of Ethereum (ETH) struggles to reclaim higher prices. According to CoinMarketCap analytics, the price of ETH has been trading between the $1,800 and $1,900 price range, moving in a stagnant sideways direction of its own. Despite this several reputed analysts are accumulating both BTC and ETH and are expecting bullish months ahead.
Specifically for ETH, sentiment is growing heavily bullish, and mostly because of the action of community leaders like Tom Lee and Doctor Profit who has not only shared several bull targets for the asset, but has also started to accumulate ETH, if not had already been accumulating since the past year and longer. In fact, sentiments for ETH are so strong that most believe $2,000 ETH price will arrive soon.
https://twitter.com/JavonTM1/status/2081360765123014887
As we can see from the post above, this reputed crypto expert and enthusiastic altcoin trader and analyst goes on to share a bullish signal for the collective altcoin market. The post above goes on to highlight how ETH against BTC on the ETH/BTC comparison price chart continues to resemble the 2017 structure closely, meaning according to these similarities, the market is in the final phase before Ethereum outruns Bitcoin massively.
Could a Repeat of the 2017 Rally Occur Soon
Could this be the massive setup altcoin traders have been waiting for? Could this be the final signal before the long-awaited altseason peak phase arrives? Or, is this just the start of the next bull cycle where altcoins are set to outperform BTC as they failed to perform at a satisfactory level in the last bull cycle? As the post highlights, the last time this indicator occurred in 2017, the crypto market witnessed one of the most powerful Altcoin Seasons ever.
https://twitter.com/CasiTrades/status/2081788136112226368
As other reputed experts share their findings and observations, it looks like it is not just ETH that is the only altcoin preparing for a massive surge in prices. As we can see from the post above, the price of XRP looks to be making its final dip before surging towards much higher price targets. Many expect the price of XRP to go on to reclaim its previous ATH targets, if not set much higher new ATH targets soon.
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