- Bitcoin price is back in the $60,000 range fueling positive market sentiment.
- This sentiment is reflected in the improved performance of altcoins.
- Utility coins have begun to outperform meme coins in the weekly charts ushering altseason.
As Bitcoin (BTC) claims the $60,000 level and the Crypto Fear and Greed Index seems to be improving, the altcoin market is also steadily showing bullish signs. In the eyes of many crypto analysts, signs for a shining altseason is more evident than ever.
ETH and JASMY SHow Strong Signs for Altseason Arrival
The leading altcoin Ethereum (ETH), is presently up by 1.77% in the last 24 hours according to CoinMarketCap analytics. At the price of $2,647, one analyst believes this is a good sign for ETH price. In detail, this analyst says that ETH price lost critical support at $2,800 and has since bottomed between the $2,100 and $2,500 price range.
In his opinion, the upside targets for ETH price are $7,800, $10,000, and $14,000 based on conservative, realistic, and optimistic price target expectations. Similarly, other popular altcoins with high expectations for parabolic pumps this crypto bull cycle are also showing very bullish signs.
For instance, JasmyCoin (JASMY) seems to have broken out of a crucial resistance level. According to one analyst, the short-term targets for JASMY are between $0.0247 and $0025. The analyst says that once JASMY price moves above the $0.0212 then almost 15%-18% will move off from there.
Utility Coins Performance Hint at Altseason Arrival
As presented in the chart above, the sentiment for a bullish future for JASMY price is quite strong. This supports the expectation from many crypto analysts of altseason being written around the corner. Another interesting phenomenon that points to the coming altseason is an interesting observation made by a popular crypto analyst.
She says that once utility coins start outperforming meme coins then it is inevitable for altseason to begin. This outperformance of utility coins over memecoin has been occurring for consecutive weeks strengthening the expectation for altseason to begin soon.
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