According to Cointelegraph's report, cryptocurrency analysts' perspectives and multiple market indicators suggest that Ethereum is about to experience a significant price increase and may trigger an "Altcoin season" in the coming weeks or months.
ETH Looks to Reach $10,000
First, cryptocurrency analyst Mikybull used the Wyckoff method for technical analysis, indicating that Ethereum's price is expected to break through $3,200. In his X post on June 26, he stated that Ethereum has completed the 'test' phase of the Wyckoff re-accumulation pattern, with a major rally imminent. The Wyckoff method is an analysis framework based on supply-demand dynamics and institutional behavior, suggesting Ethereum may be at the end of an accumulation phase, preparing to enter an upward trend.
Additionally, Mikybull's analysis, combining the Elliott Wave theory, predicts that Ethereum could reach a peak of $9,000 to $10,000 in this cycle.
Altcoin Season Signals
Furthermore, Alphractal founder and CEO Joao Wedson emphasized market opportunities in his X post on June 26, stating: "The Altcoin season index is flashing opportunity signals, be prepared." He noted that Bitcoin has outperformed Altcoins in the past 60 days, with the Altcoin season index in the green area below 20%, which could be a good time for investors to accumulate when Altcoins are lagging. Historical data shows that when the index breaks 20%, Altcoins often quickly outperform Bitcoin in the short term.
When Will Altcoin Season Arrive?
Regarding when the Altcoin season will arrive, popular cryptocurrency analyst Rekt Capital pointed out that Bitcoin dominance is currently at 65.77%, just 5.5% away from returning to the 71% level seen in January 2021.
He stated that this process typically takes one to two months after "successfully retesting the 64% support level" and predicted: "Bitcoin dominance is likely to drop in the coming weeks." This could signal funds moving from Bitcoin to Altcoins, triggering a comprehensive Altcoin season.
Simultaneously, anonymous analyst The Chart Degen optimistically posted on X on June 27: "Choose the right Altcoins, and you'll earn amazing profits in the coming months."
