{"id":40349,"date":"2021-04-07T17:18:50","date_gmt":"2021-04-07T14:18:50","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=40349"},"modified":"2025-08-30T13:45:38","modified_gmt":"2025-08-30T10:45:38","slug":"analyst-forecasts-the-duration-of-the-altcoin-season","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/analyst-forecasts-the-duration-of-the-altcoin-season\/","title":{"rendered":"Analyst forecasts the duration of the altcoin season"},"content":{"rendered":"

The current market situation is described by Vladimir Kavetsky, the analyst of the Nanny Ventures <\/a>project.<\/p>\n

Last week, Bitcoin cleared the $60,000 mark but failed to hold above it. However, the week closed above $58,000, which can be regarded as a positive signal for buyers.<\/p>\n

The price has been range-bound for several days now, trading in the $60,000-$57,000 range. The Bitcoin consolidation is allowing some altcoins to rise, hence we are observing a decline in the dominance index.<\/p>\n

\"\u0410\u043d\u0430\u043b\u0438\u0442\u0438\u043a<\/figure>\n

False breakouts in either direction from the range should not be ruled out in the near term.<\/p>\n

Today the main intraday resistance is the zone $58,750-$59,000, as indicated by the POC on the hourly chart.<\/p>\n

On the 4-hour chart, a clear battle between buyers and sellers with long shadows on candles is evident. Moving averages are effectively holding the price, preventing a close below the exponential moving averages (clearly visible in the green zones). Higher lows are rising, which together indicate buying strength and overall long expectations among market participants.<\/p>\n

\"\u0410\u043d\u0430\u043b\u0438\u0442\u0438\u043a<\/figure>\n

The dominance index broke through a two-year trendline and continued to fall below 57%. Technically the chart favours altcoins, but one should not forget that 50% is a strong psychological level, and the 50-57% range has been a zone of nearly half-year consolidation in 2018-2019.<\/p>\n

The index is pressured by the arrival of new projects to the market. Do not rule out another test of 60% followed by a drop to 50%. Below this mark, the so-called altcoin parade will begin. The onset of an altseason is evidenced by inflows into Grayscale trusts \u2014 in our assessment, this period could last several months.<\/p>\n

\"\u0410\u043d\u0430\u043b\u0438\u0442\u0438\u043a<\/figure>\n

In a week, the cryptocurrency exchange Coinbase will conduct a direct listing of shares under the ticker COIN<\/a> on Nasdaq. Market expectations for the event are highly positive, which could push Bitcoin and top crypto assets to new highs.<\/p>\n

Read ForkLog’s Bitcoin news on our Telegram<\/a> \u2014 cryptocurrency news, prices and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"

The current market situation is described by Vladimir Kavetsky, an analyst at Nanny Ventures.<\/p>\n","protected":false},"author":1,"featured_media":40350,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[20,1253],"class_list":["post-40349","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-altcoins","tag-technical-analysis"],"aioseo_notices":[],"amp_enabled":true,"views":"25","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/40349","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=40349"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/40349\/revisions"}],"predecessor-version":[{"id":40351,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/40349\/revisions\/40351"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/40350"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=40349"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=40349"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=40349"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}