The cryptanalyst allowed the emergence of a “crazy leap in alts”

Analysts again allowed the start of the altcoin season after the recent increase in the capitalization of crypto assets. Market participants are eyeing digital currencies after Ethereum rose in price by 27% recently.

According to TradingView, the altcoin market capitalization now exceeds $1.1 trillion. An analyst calling himself Trader Tardigrade believes that the size of this market could triple. This scenario is possible if he manages to break out of the “reverse head and shoulders” pattern.

“It is expected to breakout in a few weeks time according to this pattern,” he added.

Crypto trader Rekt Capital suggested that altcoin capitalization could reach its highest weekly close since the beginning of last month.

A technical analyst with the pseudonym Yodda also advised to expect a “crazy run in alts once it breaks past weekly resistance.”

Crypto analyst Mustache wrote that “altseason is just around the corner.”

Experts pointed out that the exchange rate of the main crypto coin had previously changed, then the price of Ethereum, and then it was the turn of altcoins. According to experts, this is due to the tendency of capital to gradually move into assets that have a lower capitalization.

In addition, dominance in the Bitcoin market over the past 14 days has decreased by 3.7%, to 53.9%. And this is another prerequisite for stabilizing the altcoin market.

The head of MN Trading, Michael van de Poppe, noted that the recent correction in the crypto market, which amounted to about 25%, provoked a correction in altcoins. According to the expert’s forecast, in the current period the capitalization of this will be about $15 trillion.

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