 
 
Major altcoins, including Binance Coin (BNB), Solana (SOL), Ripple (XRP), and others, managed to hold on to key long-term support levels during the recent price dump in the crypto market, one analyst argues.
While the larger crypto market, including Bitcoin, suffered losses of its own, the secondary market witnessed a major bloodbath on October 10. It lost more than a quarter of its value in the flash crash and experienced tens of billions of dollars in liquidations in the derivatives market.
Altcoins Hold to Long-term Support
While the alts suffered a major price crash just days ago, many experienced crypto analysts were unfazed by the drop and demonstrated how the market managed to avoid falling below key price levels.
Jelle, a popular crypto analyst with more than 100,000 followers on X, tweeted:
“One of the craziest wipeouts ever seen, and yet #Altcoins managed to hold the key support.
 
Great sign of strength. Feel bad for those who got liq’d – but this looks ready to rip a lot higher.
Send it”.
Here is the altcoin graph (minus ETH) of the last 4 days:
The Future
While last Friday’s crash put a dent in the bullish side of things, the market has since recouped around 70% of the lost value and could be well-positioned to end the losses in the coming days. However, recovery to the status quo is not enough for the market right now, as it needs to continue onwards to bring the much-needed spark back on the table.
The reason is that even before the major crash, the secondary crypto market wasn’t doing well. It failed to overcome the crucial resistance level around $1.2 trillion for the last few months. For the bulls to force a major breakthrough, the altcoin bulls need to perform beyond cutting losses.
The “altseason” hasn’t arrived during the ongoing 2024-2025 bull market, with only modest gains reported during this time. This pales in comparison to the 2017 and 2021 bull markets in which alts reported massive price gains at the end of the calendar year. Now, time is running out for these upward forces, and they need to get their act together or risk losing their place in the crypto 4-year cycle altogether. This is why the upcoming few weeks will be of great interest to traders and commentators alike.