{"id":55045,"date":"2025-03-28T00:30:28","date_gmt":"2025-03-28T00:30:28","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=55045"},"modified":"2025-03-28T00:30:28","modified_gmt":"2025-03-28T00:30:28","slug":"waiting-for-an-altcoin-season-analyst-says-a-weekly-close-above-this-level-would-trigger-a-rally","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=55045","title":{"rendered":"Waiting For An Altcoin Season? Analyst Says A Weekly Close Above This Level Would Trigger A Rally"},"content":{"rendered":"

The crypto market is still trying to recover<\/a> from its crash in early March, and sentiment is currently fluctuating. Although the Fear & Greed Index is still in the fear zone, the Bitcoin price is now slowly pushing back toward $90,000, which has been slowly changing the sentiment among altcoins.<\/p>\n

Rekt Capital, an influential analyst on X, reignited hope for an incoming altcoin season<\/a> with a key technical signal. According to the post, a breakout in the altcoin market cap could soon take shape if one critical condition is met. The analyst shared a chart and commentary<\/a> suggesting that the next major rally may already be in motion, provided that the altcoin market cap can secure a weekly close above a particular level.<\/p>\n

Weekly Close Above $250 Billion Could Be The Game Changer<\/h2>\n

The altcoin market cap reached a multi-month low<\/a> in the first week of March after the crash that saw many cryptocurrencies shell out weeks of price gains within a short period. This crash briefly pushed the altcoin market cap below $200 billion, although it eventually closed the week above this threshold. However, this market cap has steadily been inching upwards in the last two weeks since the crash.<\/p>\n

At the time of writing, the altcoin market cap has risen back to around $249 billion. Technical analysis from crypto analyst Rekt Capital emphasized that a weekly close above the $250 billion mark would mark a significant technical shift for alts.<\/p>\n

This level, highlighted in blue on the chart below, will be an important resistance level for crypto investors waiting for the altcoin season. The analyst noted that a decisive close above it would likely precede a breakout rally toward the $315 billion level, marked in red. That move wouldn\u2019t just signal short-term bullishness; it would also serve as confirmation that the bottom for altcoins has already been established.<\/p>\n

However, even if the altcoin market cap were to surge quickly towards $315, there would still be some work to do<\/a> to return in order to the recent high of $451 billion set in December 2024.<\/p>\n

Shallow Correction Points To Stronger Momentum Ahead For Altcoin<\/h2>\n

The nature of the current correction from this $451 billion altcoin market cap adds more weight to the possibility of an altcoin rally. According to the analyst, the ongoing correction has only reached a 55% drawdown from its local high, notably shallower than the previous major altcoin bear market retracements of 69% and 85%.\u00a0<\/p>\n

The shallower decline in the current retracement is interpreted as a sign of growing market maturity<\/a> among altcoins. This implies that the selling pressure may be waning and that bulls are preparing for a stronger push. It also means that the $425 billion altcoin market cap resistance is weakening as a point of rejection, which in turn increases the chances of a breakout at the next visit.<\/p>","protected":false},"excerpt":{"rendered":"

The crypto market is still trying to recover from its crash in early March, and sentiment is currently fluctuating. Although the Fear & Greed Index is still in the fear zone, the Bitcoin price is now slowly pushing back toward $90,000, which has been slowly changing the sentiment among altcoins. Rekt Capital, an influential analyst […]<\/p>\n","protected":false},"author":0,"featured_media":55046,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-55045","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/55045"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=55045"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/55045\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/55046"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=55045"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=55045"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=55045"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}