The Possible Beginning of an Altcoin Season

The market for altcoins might be entering an “altcoin season,” according to respected crypto analyst/trader Ash Crypto, who has identified a key technical pattern.

He highlights a hidden bullish divergence on the weekly Relative Strength Index (RSI). For those who may not be familiar with charts, this pattern indicates that despite declining prices, underlying momentum is building, suggesting a potential turnaround.

> The total altcoin market cap indicates
> a bullish hidden divergence on RSI in
> weekly chart.
>
> A reversal from here will start a huge
> Altcoin season. pic.twitter.com/eRT1rwHEg3
> — Ash Crypto (@Ashcryptoreal) March 20, 2025

Current Status of the Altcoin Market

Since mid-December of the previous year, the total value of the altcoin market has been on a downward trend, characterized by lower highs and lower lows. However, the altcoin market cap has recently stabilized around the $1.03 trillion mark, increasing optimism for a potential rebound.

Market Cap excluding BTC. Source: TradingView

Despite this stabilization, prices remain below several critical moving averages, indicating a possibly rough recovery path. The 200-day Simple Moving Average (SMA) currently at around $1.16 trillion is a significant resistance level, alongside the 100-day SMA at $1.29 trillion and the 50-day SMA near $1.15 trillion.

Key Resistance and Support Levels

An essential level to monitor is $1.06 trillion. If the market can break above this point decisively, a short-term recovery might follow, targeting the $1.15 trillion to $1.16 trillion range.

However, if prices remain below the $1.06 trillion mark, a retest of the $1.03 trillion support level may occur, risking further declines if that support fails to hold.

Performance of Major Altcoins

Market sentiment remains cautious as major altcoins struggle to find their footing.

• Ethereum: Trading around $1,980, down about 2% in 24 hours, with high trading volume exceeding $12.7 billion.
• XRP: Currently around $2.40, also down about 2%.
• Solana: Priced at around $128, reflecting a drop of 3.5% over the same timeframe, contrasting with ETH and XRP.

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