Odaily Planet Daily News ETH/BTC is forming multiple bullish technical patterns, and analysts believe this could trigger a new round of "altcoin season" in 2025.
Technically, the ETH/BTC ratio shows both a cup-handle pattern and a bull flag pattern. The cup-handle pattern shows a possible breakout of the 0.02596 BTC neckline, with a technical target close to 0.03814 BTC, suggesting a possible rise of 55% by July. The bull flag pattern, on the other hand, suggests a possible breakout to 0.03235 BTC, about 30% above the current level. Analyst Trader Tardigrade said a breakout in ETH/BTC could trigger an altcoin season in 2025.
Data presented by analyst Sensei shows that the market value 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 value explosion.
Analyst Moustache also noted 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 altcoin season may be around the corner. (Cointelegraph)