Odaily News ETH/BTC is forming multiple bullish technical patterns that analysts believe could trigger a new “altcoin season” in 2025.
Technically, the ETH/BTC ratio shows both a cup-and-handle pattern and a bull flag pattern. The cup-and-handle pattern shows a possible breakout above the 0.02596 BTC neckline, with a technical target close to 0.03814 BTC, suggesting a 55% increase by July. The bull flag pattern, on the other hand, suggests a possible breakout to 0.03235 BTC, about 30% above current levels. Analyst Trader Tardigrade said a breakout in ETH/BTC could trigger the 2025 altcoin season.
Analyst Sensei showed data showing that the market capitalization of altcoins relative to Bitcoin is retesting a long-term ascending support trendline. Historically, each rebound from this level has heralded a massive rise in altcoins, one leading to a 9,000% increase and another triggering a 180,000% market capitalization explosion.
Analyst Moustache also pointed out that altcoins are breaking out of a seven-year descending wedge, a pattern that appeared before the big rallies in 2017 and 2020, suggesting that a new round of altcoin season may be coming. (Cointelegraph)