Impending Altcoin Season: Golden Cross Indicates Possible Uptrend
Bitcoin’s current consolidation around $37k seems to be overshadowing the altcoin market, with the exception of LUNA-associated tokens. However, the coming altcoin season could be closer than we think, as suggested by Crypto analyst MoustacheTA who noticed a Golden Cross in the monthly Altcoin market chart. This bullish pattern, which appears when the short-term moving average overtakes the long-term average, has traditionally indicated altcoin rallies, as seen in 2016 and 2020. Conventionally, a drop in Bitcoin dominance signals the start of altcoin season. Given that most altcoins are tied to EthereumEther (ETH) is used to pay for computation and token swaps on Ethereum. Users "fuel" smart contracts and DApps with ETH. More, the growing interest and price trends in EthereumEther (ETH) is used to pay for computation and token swaps on Ethereum. Users "fuel" smart contracts and DApps with ETH. More could substantially impact altcoin prices. Hence, it’s crucial to monitor Ethereum’s price changes for indications of the altcoin season coming.
