Altcoin Season 2024 is about to begin
To delineate the onset of Altseason 2024, I have meticulously scrutinized
OTHERS.D
, which offers insights into Dominance distribution, excluding the Top10.
Historically, the level around 12% has proven to be extraordinarily significant. Presently, the "price" rests just below this pivotal level (specifically at 11.93%). However, we have recently witnessed a compelling inverse head and shoulders pattern, followed by a move above 12%. This suggests that the current level may simply be a retest of 12%, potentially heralding the beginning of a journey towards new highs and triggering a substantial Altcoin Season.
I've opted to illustrate this phenomenon using the "Baseline" chart style. However, transitioning to regular candlesticks would further accentuate the significance of the 12% level.
OTHERS.D
, which offers insights into Dominance distribution, excluding the Top10. Historically, the level around 12% has proven to be extraordinarily significant. Presently, the "price" rests just below this pivotal level (specifically at 11.93%). However, we have recently witnessed a compelling inverse head and shoulders pattern, followed by a move above 12%. This suggests that the current level may simply be a retest of 12%, potentially heralding the beginning of a journey towards new highs and triggering a substantial Altcoin Season.
I've opted to illustrate this phenomenon using the "Baseline" chart style. However, transitioning to regular candlesticks would further accentuate the significance of the 12% level.