Analysis: ETH/BTC is forming multiple bullish technical patterns, which may trigger a new round of altcoin season

Planet Daily News: ETH/BTC is forming multiple bullish technical patterns, with analysts believing this could trigger a new "Altcoin season" in 2025. Technically, the ETH/BTC ratio is showing both a cup and handle formation and a bullish flag pattern. The cup and handle formation suggests a potential breakthrough of the 0.02596 BTC neckline, with a technical target near 0.03814 BTC, implying a possible 55% increase by July. The bullish flag pattern indicates a potential breakthrough to 0.03235 BTC, approximately 30% higher than the current level. Analyst Trader Tardigrade suggests that an ETH/BTC breakthrough could spark the 2025 Altcoin season. Data shown by analyst Sensei indicates that the market cap of Altcoins relative to Bitcoin is retesting a long-term ascending support trend line. Historically, each rebound from this level has signaled massive Altcoin rallies, with one leading to a 9,000% surge and another triggering a 180,000% market cap explosion. Analyst Moustache also points out that Altcoins are breaking through a seven-year descending wedge, a pattern that appeared before significant rallies in 2017 and 2020, suggesting a new Altcoin season may be imminent. (Cointelegraph)