Time for altseason? Analysts say altcoin market is near ‘momentum bottom’
Altcoin prices have been in a rut, but a key alteason indicator hints that the “strongest wave” is yet to come.
The altcoin market had been trending down over the past two weeks, but a key indicator reveals that the recent drawdown could indicate a “relative momentum bottom,” which, if history repeats, could soon see a “concerted take-off,” according to crypto analysts.
The crypto Top 200 Equal Weight Index is “still trending down, but the Altseason indicator shows that the recent washout when it hit 10% was likely a relative momentum bottom,” according to Chief Crypto Analyst at Real Vision Jamie Coutts.
The crypto Top 200 Equal Weight Index is an equally weighted index that seeks to track the performance of the top 200 cryptocurrencies by market capitalization from that of Bitcoin.
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Author: Nancy Lubale
