Altseason Setup? Altcoins Retest Key Level
Altcoins retest key support after deviation. Could this signal the start of the long-awaited Altseason?
- Altcoin market shows signs of bullish reversal.
- Retest phase is underway after a deviation.
- Market sentiment still skeptical about Altseason.
The crypto market is buzzing again, but this time the spotlight is quietly shifting toward altcoins. While many traders have given up on the idea of an Altseason, some analysts argue that’s exactly why it’s coming. According to a recent chart shared by crypto trader El Crypto Prof, the altcoin market may be on the edge of a significant move.
Altcoins recently showed a deviation below a key support level. This kind of deviation often shakes out weak hands and signals a potential trend reversal. Now, the market is in the “retest” phase—where prices return to confirm support before potentially heading higher.
If the retest holds, a bullish pump could be next.
Why Sentiment Matters
Market psychology plays a big role in crypto cycles. When everyone expects an event, it usually doesn’t happen on their terms. But when the majority loses hope—like many have with the idea of Altseason—that’s often when the unexpected hits.
Currently, social sentiment is subdued. Traders are focused on Bitcoin and Ethereum, while altcoins lag behind. This lack of attention could create the perfect storm for a breakout in the altcoin space.
What to Watch Next
Keep an eye on the altcoin chart’s support level. If it holds during the retest phase, momentum could shift quickly. A strong bounce from here could be the confirmation bulls are waiting for. Altseason might not be canceled after all—it might just be fashionably late.
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