Altcoin season on the horizon?

Altcoins may enter a positive phase despite their recent collapse. According to experts, ZEC, NEAR and HYPE are leading this trend. Traders and investors are now showing confidence in these tokens despite the overall negative sentiment.

With capital now increasingly flowing into altcoins, rather than Bitcoin, experts are predicting the emergence of altcoin season. This also indicates that the momentum may soon reverse to related sectors such as AI protocols, privacy coins, DEXs, etc.

Altcoin season hopes rise amid rising assets

In his latest post on X, analyst Michael van de Poppe highlighted… Possible emergence of Altcoin season. He wrote on X, “This is clearly the season where we will see a lot of bullish momentum on altcoins.”

Reinforcing Michael van de Poppe’s analysis, another leading analyst known as CW noted that the cryptocurrency market is approaching altcoin season. The analyst noted that Bitcoin’s dominance is waning, boosting altcoin momentum.

According to the 180-day Altcoin Season Indicator, the market is currently at 18.58. While this suggests that Bitcoin has been outperforming altcoins for several months, this may end soon. Bitcoin’s market supremacy may soon collapse, leading to a surge in altcoins.

To further confirm this sentiment, Tom Lee of BitMine stated that the crypto spring has already begun. He believes that altcoins such as Ethereum will lead the next cryptocurrency rally. I read his words,

“In our view, the crypto spring has begun, and as in previous cycles, investor sentiment and conviction are weak and bearish even as crypto prices rise.”

ZEC, NEAR, and Hyperliquid are attracting attention

Van de Poppe’s analysis focused on major altcoins such as Zcash, Near, and Hyperliquid. These tokens are receiving increasing attention due to their impressive performance in recent times. It is worth noting that Bitcoin has fallen inside the red zone over the past few months. Meanwhile, ZEC, NEAR, and HYPE made significant gains.

As of press time, ZEC Like you-6.62% Its value is $615.18, which represents a remarkable rise of 73% in one month. Despite falling 6.5% in the past 24 hours, Zcash is up about 10% in a week. Trading at $59.75, Hyperliquid The noise-5.55%It rose by about 24% in a week and 45% in a month. But it fell by almost 5% in one day. And at the same time close close13.94%It achieved significant gains on a daily, weekly and monthly basis, rising by 15%, 65% and 93% respectively.

To add more excitement to the analysis, market expert CryptoJack took to X to share his insights into ZEC’s performance. According to him, Zcash is currently trading above a crucial support line, indicating a potential upside. He pointed out,

“ZEC is currently holding above the uptrend support line, will ZEC be able to hold this support and continue moving higher?”

Meanwhile, the potential for NEAR’s uptrend to continue is evident in recent whale activity. In X’s post, Lookonchain revealed significant whale movement. One top trader, known as 0x7be1, opened a 10x long position on 2.34 million NEAR tokens, worth a whopping $6.45 million. The same whale has placed limit orders for 813,000 other tokens for its long trades. This indicates that the whale is very optimistic about the potential rise of the cryptocurrency soon.

The Hyperliquid cryptocurrency also performed well during these days. HYPE has reached a new all-time high $64 recently.

Altcoin’s rally is expanding beyond major coins

Furthermore, Michael van de Poppe noted that the altcoin market rally could expand beyond these tokens. Investors are looking for projects that can yield greater gains. Thus, they change their position from large currencies to smaller projects.

As part of this trend, there is a focus on AI-focused projects, privacy coins, and RWA platforms. This is because traders believe that these sectors have growth potential. DEXs and perpetual trading platforms are also in line.