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According to market strategist João Wedson, several leading altcoins have now completed their final accumulation phase, setting the stage for a powerful rally across sectors such as memecoins, gaming tokens, and DeFi projects.
Wedson described this stage as the quiet before the storm, explaining that accumulation typically occurs “right when everyone’s talking about a bear market” and fear dominates the space. “That’s when the big players quietly take their positions,” he said, suggesting that current pessimism could be the turning point before the next major upswing.
Ethereum, often viewed as a bellwether for broader altcoin momentum, is showing similar signals. Analyst EtherNasyonal pointed out that ETH has entered its “third cycle,” testing the same demand zones that preceded the last two parabolic rallies.
“History doesn’t repeat, but it sure rhymes,” another trader commented, implying that Ethereum could be on the verge of its biggest move yet if the pattern holds true.
 
However, not everyone is convinced that a full-scale altcoin season is imminent. Investor and market watcher Ted Pillows noted that the altcoin market cap, excluding Ethereum and stablecoins, is 35% below its 2021 all-time high. “Until this reclaims the 2021 highs,” he said, “I think there won’t be any broad altseason.”
CoinMarketCap data supports this cautious outlook, showing the Altcoin Season Index at 27/100, down from 60 last month and well below December 2024’s high of 87.
However, some analysts see the recent turbulence as part of a familiar pattern. Historical data compiled by Bull Theory indicates that every major crypto expansion has followed deep corrections of 30% to 60%.
The latest market reset saw assets like Solana, Dogecoin, and Chainlink tumble over 20% in a day. This reset might have cleared the path for what traders are calling Altseason 3.0.