The altseason was expected to kick-start from the beginning of 2022. As the BTC price smashed its highs in early Q4 2021 and maintained a silent trend ahead. However, due to various multiple factors, the downtrend kept continuing until the press time. Therefore, the uncertainty over the Altseason and over the entire crypto space is outspread at the press time. Yet minor possibilities of the altcoins gaining momentum, igniting notable Altseason surfaces.
The analysts point out the dominance of the BTC price which is slightly down while the other altcoins, especially Ethereum, is going up. And hence it may be a perfect set-up for the upcoming altseason. On the other hand, the global market capitalization of altcoins is testing some crucial support zones. And by forming a bullish hammer, the market cap showcased a bullish reversal.
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Will NFTs Outperform DeFi’s and Traditional Altcoins?
NFTs are speculated to experience a parabolic move in a short while as the Altseason gets heated up. And hence with the rising momentum, the popular tokens like Decentraland(MANA), The Sandbox(SAND), Gala(GALA), etc are expected to undergo a monstrous rally. The other NFTs may also join the party to follow these tokens to form a new ATH.
On the other hand, DeFi tokens like Terra(LUNA) which have showcased huge strength amid the current uncertain conditions could ignite a massive bull run to gain levels beyond $100. Besides LUNA, Avalanche(AVAX) may also give a tough competition to LUNA to hit $100 levels. And the other tokens like Chainlink(LINK), Fantom(FTM), Tezos(XTZ), Aave(AAVE), etc may also display a gigantic rally.
Also Read: Dogecoin & Shiba INU are Out of Top 10 Nowadays! Will They be Out of the Top-50 too?
Source: https://coinpedia.org/altcoin/is-the-altseason-2022-around-the-corner/