Altcoin Season Predicted: 217-Day Rally Possible

A new technical analysis suggests that the crypto market, which includes altcoins like Ethereum (ETH) and Dogecoin (DOGE), is on the brink of a significant altcoin season that could last for 217 days. This analysis, conducted by a TradingView crypto analyst known as Sporia, focuses on key indicators within the Total2 chart, which represents the total crypto market cap excluding Bitcoin. The analyst emphasizes the importance of maintaining a critical support level, suggesting that if this level holds, the much-anticipated altcoin season could finally commence.

Sporia's analysis highlights that top cryptocurrencies like Ethereum and Dogecoin stand to benefit from this potential market shift. The current market conditions align with Fibonacci time sequences, which may signal an inflection point for altcoin prices. Sporia shared a price chart, describing it as a tool for determining bottom signals for altcoins. Since 2022, this chart has indicated significant bottoms each time the market encountered resistance at a crucial point. As of this week, the chart has recorded a bottom, marking the fourth hit around the critical resistance zone.

The analyst expressed excitement about this trend, solidifying his confidence in a strong altcoin season. The alignment of events, including key support line formations during the week of the Fibonacci time sequences, indicates the heightened possibility of a major market shift. Sporia revealed that the first two hits did not trigger any major events, but the third hit at the 2.618 level led to a significant pivot. Currently, this fourth hit at the 3.618 level coincides with the August 2024 altcoin crash, which mirrored the COVID crash in the last cycle. This suggests a 50% accuracy rate for the current Fibonacci sequence, making it an ideal target to watch for a potential bottom and pivot.

Diving further into his analysis, Sporia predicts that the altcoin market could rally for 217 days, peaking by October 13, 2025, roughly 20 to 30 days after Bitcoin reaches its projected cycle top. Historically, Bitcoin has always hit a cycle top before altcoins. In 2021, Bitcoin peaked in April, and the altcoin market topped 28 days later. Similarly, in 2017, Bitcoin reached the top of the market, and altcoins followed 22 days later. For this market cycle, Sporia projects that Bitcoin will hit its highest point by mid-September after a typical 1,050-day cycle from its previous market bottom.

Notably, the analyst revealed that the last time the altcoin market hit the 3.618 Fib level, its total market capitalization surged to $5 trillion. Overall, Sporia has indicated a 99% surety that the altcoin market will bottom so long as the key diagonal support holds. If it does, he highlights that the market should expect a V-shaped recovery and an uptrend lasting for 217 days.