- Analyst Jason Pizzino claims that the altcoin season could be coming in the near future.
- Another analyst “Chiefly” predicts a 45,000% return by the altcoin sector this cycle.
- Tokens like Fartcoin, AI16Z, Solana (SOL), and others have crashed massively in the past week.
The altcoin market is facing an uncertain period with cryptocurrencies like Solana (SOL), Virtuals Protocol (VIRTUAL), AI16Z, and Bittensor (TAO) down significantly in the past week. However, analysts have shared positive expectations for the market, with Jason Pizzino claiming that soon, the crypto market could soar to new highs.
Crypto Market “Capitulation” Signals Potential Bull Run?
In a post on X (formerly Twitter), Pizzino pointed out that while the Bitcoin and crypto market sentiment continues to drop, capitulation is happening, and anger towards altcoin sectors is rising. At the same time, the stock markets across Europe and the US are doing better while the United States dollar falls.
Pizzino stated that similar situations have been seen around each Bitcoin price crash and are followed by explosive price surges. On the other hand, another analyst explained that the altcoin market could soon skyrocket, adding that this is the final dip before new all-time highs for many digital assets. “Just a few right low-caps will turn your $150 into $25,000,” predicted “Chiefly,” an analyst on X.
Related: Bitcoin Holds Steady, Derivatives Surge: Crypto Market Snapshot – Feb. 17, 2025
Meanwhile, CoinMarketCap data shows that the altcoins that printed massive gains in the past year, including Fartcoin (FARTCOIN), which soared almost 464%, and VIRTUAL, which shot up almost 2,000%, are down 45% and 20% in the last seven days as the sellers continue to dominate the market.
Altcoin Market Cap Nearing “Oversold” Territory
The altcoin market cap chart below shows that the Relative Strength Index (RSI) reads a value of 38.82, indicating that the market is approaching oversold conditions. However, it has not yet dropped below 30, which would signal a stronger buy zone. Also, the market eyes to retest the 20-day EMA, which stands at $884.46 billion. Breaking above this could turn the altcoin further bullish.
Related: Ethereum Community Intrigued by $1.37 Million Burn & “Brain-Weapon” Claim
The MACD histogram remains red and the MACD line (blue) remains below the signal line (orange) following a bearish divergence which was seen last week. If the MACD line breaks above the signal line, higher prices could be expected.
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