The return of altseason is a much-awaited event in the cryptocurrency sphere and the psychological barrier of relief, so to speak.
The values of various altcoins have been rising throughout this year; however, even with the rising prices, they could never cross the price mark of the leading cryptocurrency Bitcoin, thereby causing Bitcoin’s rate of dominance to rise considerably. Whilst there have been calling for the initiation of ‘altseason’ for a long time, however; no gains have been reported so far.
While some alternative coins such as Stellar have had their value increased, moreover, other alternate coins have also indicated the starting of upward trends.
XRP, LTC, ETH and ADA to lead the return of altseason
Mitoshi Kaku, the creator of “Waves & Particle Trading System,” along with being a technical analyst, recently suggested that there is a possibility of many altcoins uptrend.
A few examples of coins having similar cycles and "W&P Pivots". $XRP $LTC $ADA $ETH $ZEC $NEO
Ichimoku on the 1W for all suggest the possibility of a nice trend, or a 6 month accumulation. #CryptoIkagi March-April 2020. https://t.co/yZQEPRqeim pic.twitter.com/NBW49gV7zs
— Joe Mitoshi 🧑🚀 (@CryptoSays) October 14, 2019
Per Kaku, the weekly time frame’s Ichimoku cloud indicator suggests that there is a possibility of an uptrend for Ripple XRP, Litecoin (LTC), Ethereum (ETH), and Cardano (ADA).
Mitoshi Kaku stated that Ichimoku cloud’s position enables a gradual uptrend for a period between five months to seven months.
Individual characteristics of altcoins:
- Ethereum (ETH) is likely to be consolidating until April 2020.
- XRP is likely to initiate an upward movement along with a retracement or an uptrend.
- Litecoin (LTC) could probably be starting a swift upward movement in the near future.
- Cardano (ADA) seems to be having the highest and most probable potential of an upward trend.
Moreover, the lagging span of all these four altcoins is below the value, which tends to indicate that, as of yet, the uptrend has not started.
