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<p>According to a recent <a href="https://twitter.com/wacy_time1/status/1784590540740157690" target="_blank" rel="noopener noreferrer nofollow">tweet</a> by analyst Alex Wacy, the ETH/BTC chart is signaling a potential strong momentum ahead, suggesting that a full-blown altseason might be on the horizon. Since October, altcoins have been gradually gaining momentum alongside the overall market, but they have not yet fully flexed their strength.</p>
<p>Wacy points out that Ethereum is currently trailing behind Bitcoin, as it has not yet hit its all-time high (ATH). Additionally, on-chain activity has dropped significantly, with gas prices ranging from 5 to 10 gwei.</p>
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<h2 class="wp-block-heading" id="capital-rotation-from-bitcoin-to-ethereum-and-high-cap-altcoins">Capital Rotation from Bitcoin to Ethereum and High-Cap Altcoins</h2>
<p>Altseason typically kicks off when capital shifts from Bitcoin to Ethereum and high-cap altcoins. In the present scenario, Wacy anticipates that current holders will rotate their Bitcoin holdings into altcoins, potentially leading to a surge in the altcoin market.</p>
<p>Moreover, coins that trade on centralized exchanges (CEX) paired to Bitcoin may be the first to show strength, as investors look to diversify their portfolios and capitalize on the potential altseason.</p>
<h2 class="wp-block-heading" id="eth-btc-chart-key-level-to-watch">ETH/BTC Chart: Key Level to Watch</h2>
<p>Wacy emphasizes the importance of the 0.06 level on the ETH/BTC chart, stating that it would be a significant signal for the altcoin market. Once this hurdle is cleared, investors should brace themselves for a massive surge in altcoin prices.</p>
<p>The analyst also notes that there was a similar structure in 2017 that often leads to a strong impulse, suggesting that history may repeat itself in the current market cycle.</p>
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<h2 class="wp-block-heading" id="on-chain-activity-and-gas-prices">On-Chain Activity and Gas Prices</h2>
<p>The drop in on-chain activity and low gas prices on the Ethereum network may indicate a period of accumulation and consolidation before the potential altseason takes off. As more users and investors enter the market, on-chain activity and gas prices are likely to increase, reflecting the growing demand for altcoins.</p>
<p>Investors and traders should closely monitor the ETH/BTC chart and the 0.06 level. If this key resistance is broken, it could signal the beginning of a full-blown altseason, presenting significant opportunities for those who are well-positioned to capitalize on the market’s potential.</p>
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<p>The post <a href="https://captainaltcoin.com/crypto-analyst-says-a-full-blown-altseason-might-be-on-the-horizon-points-to-the-interesting-ethereum-bitcoin-chart-structure/" rel="noopener noreferrer nofollow">Crypto Analyst Says A Full Blown Altseason Might Be On The Horizon: Points To The Interesting Ethereum/Bitcoin Chart Structure</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Crypto Analyst Says A Full Blown Altseason Might Be On The Horizon: Points To The Interesting Ethereum/Bitcoin Chart Structure

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