Prominent crypto analyst Mags has revealed new altcoin concepts that can shift the situation significantly. In a recent post on X, the analyst mentioned that the space of the digital currency is likely to transition soon, and this transition may be the next big season of altcoins.
Here, Mags focuses on the ETH/BTC pair as it is the main ratio which traders and investors pay much attention to. ETH/BTC ratio can be considered as the simplest model that has been used historically as an indicator of trends in alcoins.
Altcoin Boom Signal
The analyst pointed out a technical signal, which, in the previous cycles, opened the road to the altcoins boom, as well as the monthly MACD crossover on the ETH/BTC pair. Referring to history, Mags said that in the previous market cycle, the bullish MACD cross on ETH/BTC monthly chart was followed by an excellent alt season.
This change started the trends of several altcoins and helped investors who had anticipated such events to earn good money. The analyst’s comprehensive analysis points at the possibility of a similar crossover being achieved and signifying the readiness of the market to achieve the goal.
The MACD is a known and accepted technical tool that helps in identifying shifts in the strength, direction of the Short-Term Trend, momentum and the standing time of the stock price. MACD bull cross is established when the MACD line crosses above the signal line, then a bullish trend may be expected. The same kind of crossover in the past helped to estimate the level of ETH/BTC and determine that investors’ confidence in Ethereum in comparison with Bitcoin increases, investment in altcoins, interest in them.
The ETH/BTC pair is expected to give another MACD bullish cross according to Mags. If it comes through in that form, this development can ignite a good altcoin run in the market which resembles the last cycle. This expectation of such a crossover has already created interest among traders and investors, so many are waiting and wondering whether this time it will be similar to the past time, and whether it will be different.
Even though its exact timing and the effect of the MACD are yet to manifest, the crypto community awaits in anticipation in anticipation of the new alt season that the new alt season might bring. As always, several factors are likely to arise, and this makes the market unpredictable and therefore, requires priority attention and planning.
This news is republished from another source.
