The crypto market is buzzing with anticipation as multiple analysts and on-chain indicators suggest that a major shift could be on the horizon. With Ethereum (ETH) showing strong technical signals and altcoin sentiment building, many believe the long-awaited "altcoin season" may finally be approaching—potentially triggered by a breakout in ETH price toward $10,000.
Ethereum’s Bullish Momentum Builds Toward $10,000
Technical analysis from several prominent crypto traders points to a significant upward move for Ethereum in the coming weeks or months. The prevailing sentiment among analysts is that ETH is forming a powerful accumulation pattern, setting the stage for a major rally.
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Wyckoff Analysis Signals Major Breakout
Crypto analyst Mikybull recently applied the Wyckoff method—a classic technical framework used to identify accumulation and distribution phases—to Ethereum’s price action. According to his analysis, ETH has completed the “testing” phase within a Wyckoff re-accumulation model.
In a post on X (formerly Twitter) on June 26, Mikybull stated: “Ethereum has finished the test phase in the Wyckoff re-accumulation model.” He added, “The big move is coming.”
This suggests that institutional and whale investors may have completed their buying phase, and the next leg could be a sharp upward breakout. A decisive move above the $3,200 resistance level would confirm this bullish structure.
Elliott Wave Theory Supports $9,000–$10,000 Target
XForceGlobal, another respected market technician, shared a similar outlook using Elliott Wave Theory. In a Thursday post, he highlighted that Ethereum’s recent climb to $2,800 is a strong bullish signal supported by real-time market data.
His wave count suggests that ETH is still in an impulsive bullish phase, with potential to reach between $9,400 and $10,000 in this cycle. “ETH is still targeting new all-time highs,” he wrote. “The cycle could end in the $9,000 to $10,000 range—minor variations are possible.”
Historical fractal patterns and increasing institutional demand—especially following the approval of spot Ethereum ETFs—are cited as key catalysts for this projected surge.
What Is Altcoin Season—and Why It Might Be Near
"Altcoin season" refers to a market phase where non-Bitcoin cryptocurrencies (altcoins) significantly outperform BTC in terms of price growth. During these periods, capital rotates out of Bitcoin and into high-potential altcoins, leading to explosive gains across the broader crypto market.
Altcoin Season Index Signals Opportunity
The Altcoin Season Index is a widely followed metric that tracks whether altcoins are collectively outperforming Bitcoin. Currently, the index sits below 20%, indicating that we are still in a "Bitcoin-dominated" market phase.
Joao Wedson, founder and CEO of Alphractal, noted on X: “The Altcoin Season Index is sending investment signals. It’s time to prepare.”
Despite altcoins underperforming Bitcoin over the past 60 days, this lagging performance may actually represent a strategic entry window. Historical data shows that once the index breaks above 20%, it often surges rapidly—reaching over 80% in previous cycles.
“This isn’t necessarily bad,” Wedson explained. “It might be the perfect opportunity to position early in undervalued altcoins before the rotation begins.”
👉 Learn how to identify early signs of altcoin outperformance
Bitcoin Dominance Near Critical Threshold
Bitcoin dominance—a measure of BTC’s market cap relative to the total crypto market—is another key indicator used to predict altcoin seasons.
At the time of writing, Bitcoin dominance stands at 65.77% and continues to rise, signaling ongoing risk-off sentiment and capital concentration in BTC. However, many analysts believe this trend is nearing its peak.
70% Rule: A Historical Precursor to Altcoin Surge
According to Mikybull Crypto, history shows that when Bitcoin dominance climbs above 70% and then begins to decline, it often triggers a broad altcoin rally.
“We’re not there yet, but we’re close,” he noted. “Once dominance peaks above 70%, watch for the reversal—it’s usually followed by a full-blown altseason.”
Rekt Capital added that Bitcoin dominance needs just a 5.5% increase to hit 71%—a level not seen since January 2021. If reached, it could set up a textbook setup for an imminent altcoin rotation.
“The last time dominance pulled back from ~64% after such a peak, the altseason unfolded within one to two months,” Rekt Capital observed.
The Chart Degen’s Outlook
Analyst The Chart Degen echoed this view on June 27: “Bitcoin dominance is about to roll over in the coming weeks.” He advised investors to focus on high-conviction altcoins now, saying: “Massive gains could be just months away.”
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Frequently Asked Questions (FAQ)
What is altcoin season?
Altcoin season is a period in the cryptocurrency market when altcoins (non-Bitcoin digital assets) experience faster price growth than Bitcoin. It typically follows a phase of Bitcoin dominance and is driven by increased investor risk appetite and capital rotation into smaller-cap projects.
Can Ethereum really reach $10,000?
While no price prediction is guaranteed, multiple technical analyses—including Wyckoff models and Elliott Wave counts—suggest Ethereum could reach $9,000–$10,000 in this cycle. Catalysts like spot ETF approvals and network upgrades add fundamental support to this bullish case.
How do you know when altcoin season is starting?
Two key indicators signal the start of altcoin season:
- A decline in Bitcoin dominance after peaking near 70%.
- The Altcoin Season Index rising above 20%, often accelerating quickly thereafter.
What causes altcoin season?
Altcoin season usually begins after Bitcoin stabilizes post-rally. As early gains in BTC slow down, investors seek higher returns in undervalued altcoins. This shift is amplified by improved market sentiment, liquidity influx, and strong project fundamentals.
Should I buy altcoins before or during altseason?
The best strategy is often to accumulate quality altcoins before the season begins—when prices are lower and sentiment is cautious. Waiting until full momentum builds may result in buying at inflated prices.
How long does altcoin season last?
Historically, altcoin seasons have lasted between 6 to 12 months, depending on macroeconomic conditions and overall crypto adoption. The duration can vary based on regulatory developments, technological innovations, and global market trends.
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Final Thoughts
The current market structure suggests we may be nearing a pivotal turning point. With Ethereum showing strong technical momentum toward $10,000 and Bitcoin dominance approaching critical resistance levels, the conditions for an altcoin season are aligning.
While timing the exact start remains uncertain, historical patterns offer valuable guidance. Investors who prepare now—by researching high-potential projects and monitoring key indicators—may be well-positioned to benefit when the rotation begins.
As always, thorough research and risk management are essential. The crypto market moves fast, but informed decisions move faster.