- The altcoin market cap closed in on the previous bull run’s peak.
- Crypto users fear that the current altcoin season may be approaching its end.
- Long-term indicators suggest the altseason is in its early stages.
The total altcoin market capitalization surged to $1.56 trillion on Monday, coming within 5% of its previous bull cycle peak before pulling back in the early hours of Tuesday.
The market’s proximity to this major resistance level has caused some panic in the crypto community, with some investors selling for fear of a potential reversal.
A clearer picture from the higher timeframe
Pushing back against this fear, one analyst studying the market has highlighted why he believes the bull run is set to continue.
In his latest podcast, the analyst cited crucial indicators on the higher timeframe, showing that contrary to the expectations of crypto community members, the bull run could still be in the early stages.
Related: ETH and XRP Surpass $BTC in 24h Volume on Binance: Is Altseason 2025 at Hand?
The crypto analyst highlighted several indicators on the monthly altcoins market cap chart that suggest significant momentum in the upward movement. He also revealed bullish signals emerging from the Bitcoin dominance and ETH/BTC charts, debunking the notion that the altseason is running out of steam.
Long-term Indicators suggest an upcoming rally
To further explain his views on the altcoin season, the analyst presented the monthly RSI indicator, using it to show how lower highs in the mid-term suggest a momentum build-up for the altcoin market.
He believes the remaining days of July and the beginning of August could be crucial to the altcoin market, considering the RSI indicator may break out of the accumulation stage and push the market higher.
Related: Altseason Momentum Builds: Are 10x–100x Altcoin Gains on the Horizon in 2025?
Additionally, the analyst showed that the MACD line has just crossed above its signal line on the monthly chart. Meanwhile, the MACD histogram printed a bullish bar, suggesting an upward movement may be about to begin. The confluence of these momentum indicators boosted the analyst’s confidence, leading him to predict that the altcoin market will rise beyond its current level.
According to the analyst, the current pullback is only a temporary event triggered by minor FUD among altcoin holders. He predicts a continuation of the bull run, which would lead to higher altcoin price targets deeper into 2025.
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