Altcoin Market Sees Fresh Strength Amid Early Signs of Altseason

The altcoin market is showing fresh strength after months of weak performance. According to analyst Darkfost, the rally has reversed a long period of inactivity when around 80%-85% of Binance-listed altcoins were trading below their 200-day moving averages.

He sees the scale of the move as an early sign of an altseason, but notes that the market is now looking overbought and may need to cool before another major move. Another analyst, Known as Crypto kid, is also bullish on selected altcoins, including XRP, HYPE, ZEC, and SOL.

The top pick among these altcoins is $XRP, which has rallied roughly 39%-40% after a double-candle reversal provided another bullish sign. However, it's now facing major resistance around the neckline of a large double-top formation connected to its 2021 bull-market highs.

Hyperliquid ($HYPE) is also on the radar due to its strong business model and potential access to the US market, which could lead to higher trading activity and additional token-buying pressure. Zcash ($ZEC) has emerged as a trading opportunity after breaking out of a bullish pennant, while Solana ($SOL) is showing a setup that compares with its 2023 price structure.

Not yet, according to the analysts. Bitcoin dominance remains around 59.69%, and Ash Crypto says a sustained move below 58% would provide stronger confirmation of a broader altcoin rotation.