Altcoin season 2022: the start of a significant rise for altcoins? 

In 2022, altcoin enthusiasts have experienced a lot of suffering. During the last ten months, not only has the price of BTC plummeted, but the valuation of most altcoins has also plummeted against Bitcoin.

Everyone is wondering – when will the 2022 altcoin season will start. BeInCrypto addresses this question in today’s analysis by examining the altcoin market cap chart, altcoin season indicators, and ETH valuation against BTC. As a result, it turns out that perhaps the worst period for altcoins is already behind us, and the market is on the verge of a massive altcoin season in 2022.

TOTAL2 starts up momentum

If we look at the altcoin market capitalization chart (TOTAL2), we can see that it has generated only green candles for the last six weeks. This likely means that we are currently in the first wave of upward momentum, which started from a low point of $427.5 billion on June 18, 2022. As a result, the market capitalization of altcoins has grown by almost 60%, peaking at $693 billion.

However, before that, the crypto market experienced a sharp drop from the all-time high (ATH) of $1.7 trillion on November 10, 2021. After that, the altcoin index declined along the descending resistance line (blue) and repeatedly deviated from it (red circles).  

Then, in March, TOTAL2 broke out of that line (green arrow), suggesting that the 2022 altcoin season had begun. However, the rise did not last long: just three weeks later, the index reached a local peak at around $1.27 trillion and began an accelerated fall.

It led to the June above low. This time the blue resistance line has turned into support (R/S flip) and has been confirmed twice already. However, before that, there was a significant bounce from the long-term support line that has existed since February 2021 (orange line and arrow).

This line is expected to act as resistance and is currently at around $1.05 trillion. In addition, it is close to the 0.5 Fib retracement level measured for the entire decline from ATH.

Cryptocurrency market analyst @StackmoneyL has tweeted a 5-day TOTAL2 chart. It compares the fractals of the current altcoin market and the 2018-2021 period. The analyst points to a similar structure that could lead to significant gains and a successful altcoin season in 2022 in the coming weeks. Interestingly, if the fractal repeats, then the nearest resistance will be in the region of $1 trillion.

Altcoin season 2022 has already begun!

The altcoin market capitalization chart and its similarity with the previous cycle are not the only reasons for the continued growth in altcoin prices. According to BlockchainCenter, the 2022 altcoin season has just begun.

Their daily altcoin season chart shows that the index entered altcoin dominance in early August. And BlockchainCenter states that if 75% of the top 50 coins performed better than bitcoin in the last season (90 days), definitely it’s altcoin season.

The altcoin season index they created hit an almost high of 98 on August 10. Such levels have not been observed since April-June 2021. Thus, if the index stays above 75 for the next few weeks, we could shortly face a strong 2022 altcoin season.

In addition, the site publishes an overview of the TOP 50 cryptocurrencies over the past 90 days compared to Bitcoin. It turned out that BTC has lost -20.2% this season, while most altcoins recorded growth or lost less.

Of particular note: CEL (342%), ETC (109%), UNI (71%) and LINK (20%). Also, some of the most significant projects outperformed Bitcoin, although they experienced declines, such as ADA (-3.1%), ETH (-5.5%) and XRP (-12.6%).

Ethereum leaves bitcoin behind

Another significant indicator of a potential altcoin season in 2022 is, of course, the performance of Ethereum (ETH) – the largest altcoin relative to BTC. The technical analysis of Ethereum against the US dollar shows that there has been a dynamic rise in the price of ETH in recent weeks. It is also possible that the RSI has broken out of a long-term resistance line and may continue rising towards the $2,100 level.

If we look at BTC’s relation, the weekly chart gives an even more bullish outlook. ETH/BTC has risen since bottoming out at 0.05 BTC, which previously served as resistance. Confirmation of this area was a bullish signal that started the continued uptrend.

ETH is currently at 0.081 BTC, up 66% from the previous low. Moreover, this week’s big green candle has led to a break above the 0.075 BTC resistance area (red line) that has previously rejected the price multiple times (blue arrows).

Technical indicators confirm the start of a bullish trend. The RSI has broken above the falling resistance line ( blue ) and above the 50 levels. Meanwhile, the MACD has recently made a bullish cross and is generating ever higher bands of upward momentum. All these events are vital signals for the continuation of upward momentum.

Cryptocurrency analyst “el_crypto_prof” compiled a monthly ETH/BTC chart; according to his assumption, we are on the verge of a massive increase in the value of Ethereum over Bitcoin.    He pointed to the parallels in the historical upwave fractals, stating that today’s price action is in line with the early 2017 period (orange ellipses).  

According to his forecast, ETH could rise by 379% from the lower limit in the coming months and reach 0.25 BTC. If this is true, then the rise of Ethereum will be a powerful catalyst for the 2022 altcoin season.

New altcoins that could explode in 2022-2023

Even though cryptocurrencies are an unregulated investment product with high volatility, the crypto market continues to be replenished with promising projects.

So, experts are paying attention to new altcoins that can explode, as DOGE did earlier.

Battle Infinity (IBAT) – game NFT platform and Metaverse

IBAT, token Battle Infinity is the first expert choice for new altcoins that can explode. Battle Infinity running on the Binance network Smart Chain (BSC), is a combination of non-fungible tokens (NFTs) and metaverse concepts. In addition, Battle Infinity, the fantasy sports blockchain gaming protocol, comes with play-to-earn (P2E) components that allow players to generate funds to participate in the games available on the platform.

As an Indian development team project, Battle Infinity is a direct competitor to Dream 11 and Mobile Premier League in the Indian market. The combination of NFT and Metaverse concepts in the Metaverse gaming platform allows it to lead among the contenders for the next Axie Infinity in the coming years.    In addition, the Battle development team Infinity comprises Indian developers who have built a strong reputation as tech geniuses in blockchain development through the country’s ever-growing software development skills. A classic Indian success is the Ethereum layer two protocol, Polygon (MATIC), created by an Indian team.

In addition, Battle Infinity is verified by Coinsniper, which means it is a project aimed at combating fraud. Early investors can participate in the 90-day token presale IBAT. The presale price is $0.0015, and the minimum and maximum investment are 0.1 and 500 BNB, respectively. Investors can visit the presale website and connect their Metamask or Trust wallet to buy the token. BNB is an accepted token. At the time of publication, 1 BNB will bring users 166,666 tokens IBAT.

Lucky Block (LBLOCK) – blockchain gaming protocol

LBLOCK tokens are also new altcoins that have the potential to tear apart the crypto space. For example, a gaming token that acts as a ticketing system for Lucky Block helps to solve problems related to transparency and fairness in the online gaming space.

Lucky Project Block, launched at the beginning of this year, has become one of the brightest representatives of the crypto market. The presale price of its LBLOCK token in mid-February of this year increased by more than 4000%, from $0.0015 to $0.096. However, growth has slowed since then, given the broader market correction. 

Despite this, the Lucky ecosystem Block continues to generate growing public and platform interest. For example, LBLOCK was recently listed on the popular centralized exchange MEXC Global after switching to V2.

Investors are even more willing to buy Lucky Block because of his suggestions. With tokens of $5 LBLOCK, users can participate in daily Lucky drawings Block trying to win million-dollar tokens. In addition to the NFT Collection by Lucky Block, Platinum rollers Club offers its holders a million-dollar NFT raffle.

For today LBLOCK is currently trading at $ 0.00089, up 8.97% from last week.

DeFi Coin (DEFC) – DeFi Education Center

DeFi Coin is one of the famous names in the decentralized finance (DeFi) subsector. It created the project to educate and adopt the next wave of cryptocurrency and DeFi users in the market. Furthermore, it makes it one of the new altcoins that have the potential to “explode” in the coming cryptocurrency bull market.  

Own token DeFi Coin, DEFC, is currently trading at $0.087, up 12.65% from last week.

Stephen (GMT) – Web3 Lifestyle Fitness App

Stephen, the Web 3 lifestyle protocol, offers the next coin on our list of new altcoins that could explode besides Dogecoin. Operating on the scalable and censorship-proof Solana network, Stephen is a combination of social finance (Social) and game finance (GameFi) components.

Stephen has received many rave reviews and opened up a money-making ecosystem to the world. The platform enjoys overwhelming support and recently announced that its second quarter was profitable. According to a Medium blog post, Stephen could generate a $122.5 million profit from platform fees.

At press time, GMT is trading at $1.1, up 10% over the past seven days.

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