Odaily News ETH/BTC is forming multiple bullish technical patterns, analysts believe this may trigger a new round of altcoin season in 2025.
Technically, the ETH/BTC ratio is in both a cup-handle pattern and a bullish flag pattern. The cup handle pattern suggests a possible break above the 0.02596 BTC neckline with technical targets near 0.03814 BTC, suggesting a possible 55% rise by July. The bullish flag pattern signals a possible breakout to 0.03235 BTC, which is about 30% above the current level. Analyst Trader Tardigrade said the ETH/BTC breakout could trigger an altcoin season in 2025.
The data presented by analyst Sensei shows that the market capitalization of altcoins relative to Bitcoin is re-testing the long-term upward support trend line. Historically, each rebound from this level has signaled a massive rise in altcoins, once leading to a 9,000% rise and another time triggering a 180,000% market cap explosion.
Analyst Moustache also pointed out that alts are breaking out of a seven-year descending wedge, a pattern that appeared before the major rises in 2017 and 2020, suggesting that a new round of altcoin season may be on the horizon. (Cointelegraph)
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