Altcoins at Most Oversold Levels in Years, Analyst Flags ETH, ADA, SUI and DOG Setups

Crypto analyst Dan Gambardello is watching four altcoins right now. The setups forming across Ethereum, Cardano, SUI and DOG on Bitcoin are sitting at oversold levels he has not seen since previous cycle bottoms.

“I’m not saying that the bottom is in. I don’t play that game anymore. I’ve done it and I’ve been wrong,” he said. “However, every cycle so far, these same indicators have basically been the bottom.”

Ethereum: The November 2024 Fractal

Ethereum is forming a structure on the daily chart that closely mirrors the November 2024 setup before that year’s breakout. Higher highs and higher lows are building at the confluence of the 20 and 50-day moving averages.

Gambardello is watching $2,800 as the first resistance level, which corresponds to the 200-day moving average. If Ethereum can hold the current support zone and break the range, he sees it as the asset most likely to lead the altcoin move.

Rejection back to the moving average confluence remains possible, but the fractal structure is intact for now.

Cardano: MACD Squeeze Building

Cardano’s daily MACD is showing a squeeze that looks nearly identical to the October and November 2024 structure that preceded ADA’s breakout. Gambardello is waiting for one specific signal: the histogram closing green above the zero line with genuine momentum behind it.

He said fakeouts are possible, pointing to a false signal in September 2024 before the real move arrived. But the setup is there and he is watching closely.

SUI: 85% Down and Monthly Stoch RSI Fully Oversold

SUI has declined 85% from its swing high. The monthly Stochastic RSI has been in oversold territory for over a year, an unusually extended reading for a quicker-moving momentum oscillator.

Gambardello said this kind of prolonged oversold condition does not happen often. If a reversal comes, he is watching $1.50 as the short to medium-term target.

DOG on Bitcoin: 91% Drawdown, Number One Meme Coin

DOG has fallen 91% from its all-time high, placing it in a similar drawdown category to ADA and SUI. Gambardello described it as the number one meme coin on Bitcoin and added it was the most engaged meme coin on X last week.