The crypto market is seeing anticipation as several technical indicators suggest an altcoin season may be imminent.

With Bitcoin's recent performance stabilizing above $90,000, market watchers shift their focus to the potential for altcoins to outpace BTC in the coming weeks.

Several technical indicators are suggesting that an altcoin season may be on the horizon, with several market analysts discussing the possibility in anticipation of an impending shift in market dynamics.

As Bitcoin’s recent price performance stabilizes above the $90,000 pivot, market participants are shifting their attention to the potential for altcoins to outpace BTC in the coming weeks and months.

One trader, Merlijn The Trader, highlighted a classic pre-altseason structure with a breakout and the RSI heating up. According to him, every major altseason started like this. He also noted that the TOTAL2 chart, which tracked the total market capitalization excluding Bitcoin, was showing signs of building momentum.

Another trader, Daniel Ramsay, shared his outlook stating that Dominance had reached into the Major Resistance Zone and soon a rejection will be witnessed, leading to a decline to the Support Zone. The current market setup draws comparisons to the 2021 bull run, when altcoins saw historic gains. Justin Wu noted the similarities while highlighting key differences.

However, another market watcher, BitElite, offered a specific timeline tied to macroeconomic factors. The analyst stated that altseason will start likely in the second week of May. “That is where Fed meeting is about cutting interest rates.” The analyst identified three critical factors needed for an optimal coin season. These are cutting rates, M2Money supply to go up, and lastly, QT to slow down or stop.

On the other hand, according to the market psychology chart from Crypto Rover, the current phase seems to be aligning with the transition from “Awareness Phase” to “Mania Phase” in the classic market cycle. The chart suggests that the market may be approaching the “Media attention” and “Enthusiasm” phases that typically precede more exuberant phases like “Greed” and “Delusion.”

The final altcoin shakeout is almost over.

$BTC.D is following a perfect descending triangle.

Every breakdown/touch on the lower red line ignited an altseason (yellow)

This time won’t be different. pic.twitter.com/hAHnl8X22V

On the other hand, here is what analyst Daniel Ramsay had to say about it:

Dominance had reached into the Major Resistance Zone and soon a rejection will be witnessed, leading to a decline to the Support Zone. The current market setup draws similarities to the 2021 bull run, when altcoins saw historic gains.

Another market watcher, BitElite, offered a specific timeline tied to macroeconomic factors. The analyst stated that altseason will start likely in the second week of May. “That is where Fed meeting is about cutting interest squares measure interest rates.” The analyst identified three critical factors needed for optimal coin season. These are cutting rates, M2Money supply to go up, and lastly, QT to slow down or stop.

According to the market psychology chart from Crypto Rover, the current phase appears to be aligning with the transition from “Awareness Phase” to “Mania Phase” in the classic market cycle. The chart suggests that the market may be approaching the “Media attention” and “Enthusiasm” phases that typically precede more exuberant phases like “Greed” and “Delusion.”

Mega altseason loading! pic.twitter.com/2qNKKHbGUC

— trader merlijn