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<p>El_crypto_prof, a cryptocurrency analyst, has shared an intriguing <a href="https://x.com/el_crypto_prof/status/1776167087364313208" target="_blank" rel="noopener noreferrer nofollow">chart analysis</a> that suggests the altcoin market could be on the verge of a significant bull run, potentially the “biggest altseason since 2017.” The analysis focuses on the relationship between Ethereum (ETH) and Bitcoin (BTC), a widely watched metric in the crypto space.</p>
<h2 class="wp-block-heading" id="strong-falling-wedge-pattern-emerges-strong"><strong>Falling Wedge Pattern Emerges</strong></h2>
<p>In the chart, el_crypto_prof highlights a falling wedge pattern forming in the ETH/BTC pair. A falling wedge is a bullish technical pattern that begins wide at the top and contracts as prices move lower. Significantly, the analyst notes that the price has reached the lower trendline of the wedge, indicating a potential breakout could be imminent.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="525" src="https://captainaltcoin.com/wp-content/uploads/2024/04/image-255-1024x525.png" alt="" class="wp-image-468837" srcset="https://captainaltcoin.com/wp-content/uploads/2024/04/image-255-1024x525.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-255-300x154.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-255-767x393.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-255-1536x787.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-255-2048x1050.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-255-293x150.png 293w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-255-100x51.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-255-683x350.png 683w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-255-788x403.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-255.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>The chart is divided into two main time periods: 2015-2018 and 2018-2024. Both periods begin with an “Accumulation” phase, where the market appears to be at a low point, suggesting that investors are buying into the market while prices are low and stable. Subsequently, there is a “Re-Accumulation” phase, which could imply a period where investors who missed the first accumulation phase are getting into the market before the next price increase.</p>
<h2 class="wp-block-heading" id="strong-bullish-signals-and-market-maturity-strong"><strong>Bullish Signals and Market Maturity</strong></h2>
<p>Notably, the second period (2018-2024) displays more volatility and smaller cycles of ups and downs within a descending channel. However, the overall trend maintains higher lows compared to the initial accumulation phase. El_crypto_prof interprets this as a sign of a more mature market that is growing at a steadier pace.</p>
<p>While the chart specifically examines the ETH/BTC pair, the analyst’s comments suggest a broader implication for the altcoin market as a whole. El_crypto_prof states, “Biggest Altseason since 2017 is ahead of us imo. All you need? Patience.”</p>
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<h2 class="wp-block-heading" id="strong-cautious-optimism-and-market-volatility-strong"><strong>Cautious Optimism and Market Volatility</strong></h2>
<p>El_crypto_prof acknowledges the possibility of a “fakeout,” but remains optimistic about the overall outlook. Various factors, including news events, regulatory changes, and investor sentiment, can influence price movements in the highly speculative and unpredictable cryptocurrency markets.</p>
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<p>The post <a href="https://captainaltcoin.com/ethereum-eth-against-bitcoin-btc-analysis-signals-impending-biggest-altseason-since-2017/" rel="noopener noreferrer nofollow">Ethereum (ETH) against Bitcoin (BTC) Analysis Signals Impending “Biggest Altseason Since 2017”</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Ethereum (ETH) against Bitcoin (BTC) Analysis Signals Impending “Biggest Altseason Since 2017”

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