Crypto analysts observe the altcoin market, speculating that current technical indicators may be signaling the start of an 'up-only season'.

Bullish Patterns on Altcoin Season Index Charts

According to pseudonymous analyst Moustache, the Altcoin Season Index has formed an inverse head-and-shoulders pattern, a bullish signal that may indicate reduced Bitcoin dominance and a rise in altcoins.

Bullish Crossover on Stochastic RSI

The Stochastic RSI on the three-week chart also signals a bullish crossover, which independent analyst Titan of Crypto believes could lead to a significant rally in altcoins.

Total Altcoin Market Cap Confirms Trend

The total market cap of all cryptocurrencies, excluding Bitcoin and Ether, has been increasing since September 6, with major moving averages situated within a demand zone, supporting an upward trend for altcoins.

Current indicators may suggest the start of a new bull market phase for altcoins. However, investors should carefully assess the risks before making decisions.