 
 
Altcoin season may still be ahead, according to a growing body of technical signals suggesting the market is preparing for another explosive expansion.
A new chart analysis shared by one market observer points to a familiar historical sequence that preceded major altcoin rallies, raising expectations that the next cycle could dwarf prior runs.
Data highlighted by analyst Mark Chadwick shows altcoins following the same structural pattern seen before the 2017 and 2021 surges. In both cases, the market formed a macro base, transitioned into a golden cross, and then entered a parabolic expansion phase.
The results were dramatic. Altcoins recorded gains of roughly 82x in 2017 and about 115x in 2021. This time, the setup is emerging after a multi-year compression period, with momentum reset and the broader trend structure still intact.
Chadwick suggests that early positioning feels uncomfortable, whereas late participation has historically felt obvious. This dynamic has often marked the beginning of past alt seasons.
 
In support, analyst Javon Marks cites altcoin dominance charts that typically evolve through three major phases. These phases often resemble wedge-like formations followed by decisive breakouts.
According to Marks, the second-phase breakout is when alt season typically begins in earnest. Current dominance levels are now hovering in an area consistent with another Phase Two breakout, implying that a third phase dominated by altcoins could follow.
However, metrics from Alphractal indicate that most altcoins now have a Long Short Ratio above 1, signaling crowded long positioning.
Even large-cap assets are affected. XRP, for instance, currently shows an LSR of 3.06, an unusually elevated reading.
The data also reveal a pattern in which long bias increases as market capitalization decreases, and this setup has historically preceded heightened volatility and pressure on long positions.
Ultimately, the charts suggest that while the structural conditions for an altcoin season may be forming, the path forward could be volatile before any sustained expansion unfolds.