The Altcoin Season Index rose to 48, indicating a neutral market between Bitcoin and altcoins. The market capitalisation shows that altcoins are regaining strength. However, Bitcoin still maintains its dominance. Analysts estimate that the Altcoin Season could start in 2025. Amid these developments, an analyst known for his bearish stance is bullish on AXS Coin and ALGO Coin.
Crypto Capo is bullish on AXS Coin and ALGO Coin!
As you follow from Kriptokoin.com, the market is following a fluctuating course. In the midst of these tides, analysts share their views to give an idea. Crypto Capo, a popular crypto analyst known for his bearish views, has interestingly been making bullish predictions for altcoins recently. In this context, the analyst predicts that the Axie Infinity (AXS Coin) price will experience significant upward movements in the short term. Crypto Capo’s first target for AXS Coin is between $ 11-13. The analyst also says that if it breaks this level, the second target will be $ 46. In this context, the analyst makes the following statement:
If there is a gaming frenzy, I want to take advantage of it. The first target for AXS coin will be the $ 11-13 level. If it manages to break this level cleanly, then we can look towards the second target of $ 46. However, it is important to proceed step by step.
Another altcoin that Crypto Capo is bullish on is Algorand (ALGO Coin). The analyst is also quite bullish for ALGO. Accordingly, he predicts an increase of about 100 per cent for the token. This shows a target of $ 0.766 for ALGO.
Altcoin Season Index points to a neutral market
The Altcoin Season Index (ASI) rose to 48 as of 26 December 2024. Thus, it recorded an increase compared to the previous day. This rise shows that the market is in a neutral phase between Bitcoin and altcoin season. ASI, which tracks the performance of the 100 largest coins in the last 90 days, revealed that Bitcoin continues to lead the market despite altcoins gaining leverage.
Notably, the index has experienced several swings over the past month. After peaking at 52 earlier this month, it fell sharply to 47 last week before rebounding to 48 on 26 December. This pattern reflects a period of consolidation, with Bitcoin and altcoins vying for dominance. Also, the year high of 87 recorded on 4 December 2024 marked the short-lived outperformance of altcoins, while the year low of 13 recorded on 3 September 2024 highlighted Bitcoin’s market dominance at the time.
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