Ethereum

Bitcoin

Resistance

Rekt

<h2 id="key-points">Key Points</h2>
<li>Altcoin market capitalization, including Ethereum (ETH), is showing signs of a potential surge, approaching a key resistance level.</li>
<li>Analysts predict a possible altseason, following patterns of previous cycles where Bitcoin prices moved first, followed by Ethereum, and then altcoins.</li>
There is renewed speculation about the start of an altseason, triggered by a recent increase in total altcoin market capitalization, including <a href="https://crypto.ro/en/cryptocurrencies/ethereum/" rel="noopener noreferrer nofollow">Ethereum (ETH)</a>.
Crypto traders and analysts are paying close attention to altcoins, following a 27% increase in Ethereum over the past week.
The total market capitalization of altcoins is currently approximately $1.16 trillion, as per TradingView data.
It has seen a 15% increase over the past two weeks and is nearing resistance levels from mid-March, when it exceeded $1.2 trillion.
<h2 id="altcoin-market-predictions">Altcoin Market Predictions</h2>
On May 26, Trader Tardigrade informed his 50,000 followers that the altcoin market could triple its total market cap if it successfully breaks out from an “inverse head-and-shoulders pattern.”
The breakout is predicted to occur in a few weeks, according to this pattern.
Trader and analyst, Rekt Capital, noted on the same day that the altcoin market cap is poised to achieve its highest weekly close since early April 2024.
Technical analyst, Yoddha, also expressed expectations of a significant altcoin pump once it breaks above the weekly resistance.
Analyst Moustache echoed this sentiment with his 120,000 followers, stating that the altseason is imminent.
Analysts have noted that in previous cycles, <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> prices moved first, followed by Ethereum, and then the altcoin markets, as capital tends to trickle down into lower-cap coins.
Bitcoin market dominance has dropped 3.7% over the past two weeks to 53.9%, another indicator of strengthening altcoin markets.
On May 25, MN Trading founder Michaël van de Poppe noted that the recent market correction, which was around 25%, resulted in a 50-70% correction for altcoins.
He forecasted that in this cycle, total market capitalization would reach $15 trillion, a 450% increase from the current levels of $2.7 trillion.
Total crypto capitalization has remained within a range for the past three months, between $2.9 trillion in mid-March and the correction low of $2.3 trillion on May 1, according to CoinGecko.

Anticipating Massive Surge, Crypto Traders Eye Altcoins Nearing Critical Resistance Levels

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