News View Non-AMP

Altcoin Season 2024: Analyst Predicts Q1 Hype Cycle for Bitcoin and Altcoins

Published by
Mustafa Mulla

Crypto strategist Rekt Capital, renowned for accurate predictions, hints at a potential Q1 2024 altcoin hype cycle. With a significant following in the crypto community, Rekt Capital draws connections between Bitcoin’s Pre-Halving Rally and Ethereum’s current pricing dynamics, signaling the stage for an impending surge in altcoin activity.

Altcoin Rally Unveiled

In a recent analysis, Rekt Capital, a pseudonymous analyst, offers a glimpse into the possibility of an impending altcoin rally. The strategist’s observations on altcoins unfold against the backdrop of the recent turmoil market.

Exploring the Altcoin Market Cap over recent weeks, Rekt Capital identifies a consolidation pattern moving towards its apex, indicating an imminent shift in the overall trend, presenting a crucial moment for market participants.

The Altcoin Market Cap currently sits at the heart of this pattern, signaling a pivotal decision on its trend may transpire in the upcoming week. This consolidation phase follows a series of historical retest attempts, each marked by distinctive circles.

The initial retest, highlighted with a green circle, centered around the green area. Notably, in 2023, this region evolved into a new support level, having previously acted as resistance in 2022 (as indicated by the red circle).

Following this, a second historical retest, denoted by a yellow circle, focused on the red horizontal level of $182 billion. Sequential retests of the green area and the horizontal red level echo established historical patterns.

As of today, the Altcoin Market Cap is undergoing the yellow-circled retest, intermittently dipping into the red horizontal $182 billion level over recent weeks. Despite this volatility, the retest of the red level remains successful, instilling stability and potentially paving the way for the Altcoin Market to revisit the $250 billion mark over time.

Building Momentum

Essentially, the Altcoin Market Cap is constructing a solid support base at the new Range Low of the red $182 billion level before embarking on an upward trajectory towards the new Range High resistance at $250 billion.

The crypto community is eagerly monitoring these patterns, fueled by the anticipation of an imminent Q1 hype cycle for altcoins. As Rekt Capital’s insights continue to captivate the market’s attention, enthusiasts brace themselves for potential market-shaping movements in the near future.

Also Read: Bitcoin Prepares for Pre-Halving Rally: Analysts Eye $50k Target in Few Weeks

Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

Recent Posts

CZ Donates $1.2M in Crypto to Earthquake Victims

Binance founder CZ has donated 1,000 BNB ($600K) each to Myanmar and Thailand to support…

April 3, 2025

House Committee Approves STABLE Act – What’s Next for Crypto?

Following a 13-hour debate, the U.S. House Financial Services Committee has passed the STABLE Act…

April 3, 2025

Trump’s Tariff ‘Liberation Day’ SHOCKS the World – Bitcoin Ready to Explode?

Yesterday, the US government imposed reciprocal tariffs on some of its prominent trade partners, including…

April 3, 2025

Ripple XRP News: RLUSD Minting Hits $100M As Demand Soars

Ripple USD (RLUSD) has seen a huge boost, with over $100 million issued since April…

April 3, 2025

EOS, Story, & Litecoin Surge As Markets Consolidate—Here’s What’s Next for These Altcoins

Since the inauguration of the new president of the US, the markets have remained highly…

April 3, 2025

Top 10 Solana Blockchain APIs for Developers

With the introduction of easy memecoin generation, Solana took off last January post pumpfun launch…

April 3, 2025