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<p>Crypto analyst Cryptonary <a href="https://twitter.com/cryptonary/status/1737110068271988783" target="_blank" rel="noopener noreferrer nofollow">conducted</a> 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.</p>
<p>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.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="580" src="https://captainaltcoin.com/wp-content/uploads/2023/12/image-541-1024x580.png" alt="" class="wp-image-403102" srcset="https://captainaltcoin.com/wp-content/uploads/2023/12/image-541-1024x580.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-541-300x170.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-541-767x434.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-541-1536x870.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-541-2048x1160.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-541-265x150.png 265w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-541-100x57.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-541-618x350.png 618w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-541-788x446.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-541.png 680w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>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.</p>
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<p>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.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="581" src="https://captainaltcoin.com/wp-content/uploads/2023/12/image-542-1024x581.png" alt="" class="wp-image-403110" srcset="https://captainaltcoin.com/wp-content/uploads/2023/12/image-542-1024x581.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-542-300x170.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-542-766x435.png 766w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-542-1536x872.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-542-2048x1163.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-542-264x150.png 264w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-542-100x57.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-542-617x350.png 617w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-542-788x447.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-542.png 680w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>This suggests some caution may be prudent in the near term heading into the Bitcoin ETF decision, which could mark the local top.</p>
<p>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.</p>
<p>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.</p>
<p>As Cryptonary concludes, reigning in expectations makes sense despite altcoin gains that would normally hint clearly at bullish season ignition.</p>
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<p>The post <a href="https://captainaltcoin.com/analyst-analyzes-sol-link-and-others-to-answer-whether-altcoin-season-is-here/" rel="noopener noreferrer nofollow">Analyst Analyzes SOL, LINK, and Others to Answer Whether Altcoin Season Is Here</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

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

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