Altcoins have been steadily recovering over the first two days of the new calendar year, and one popular analyst has stated that we could see sustained upward price action over the next 2-3 months. The larger cryptocurrency market, and altcoins in particular, have been under a major bearish spell since the flash crash of October 10 last year. Still, now there are indications that a trend reversal may be on the cards.
Altcoins to Take Charge
Michael van de Poppe, the analyst in question, has over 815,000 followers on X. He is upbeat about a potential recovery, driven by altcoins as we have bid farewell to a bearish 2025. He tweeted:
“Many #Altcoins have been correcting all the way down to their wick of the 10th of October.
Finally, things start to turn upwards.
The same can be said for $LINK, which is currently breaking the 21-Day MA for the first time since the Summer.
This would imply that the markets are ready for an upward run coming 2-3 months.”
Image Source: XVan de Poppe highlighted the positive development for LINK, a major altcoin with a $9.2 billion valuation. Here is the price action of LINK:
Image Source: TradingViewThe short-term moving averages are convincingly trending upwards, and a similar pattern can be seen across multiple other altcoins. Historical data from previous cycles shows similar MA breaks often precede 20-50% rallies in altcoins over 2-3 months, provided Bitcoin stabilizes above $90K, as seen in Q4 2024’s post-halving uptrend.
The Future
Altcoins are looking to start 2026 on a positive note, but the bullish forces have their work cut out for them if they wish to shed the bullish baggage from 2025.
One X user replied:
“As long as Bitcoin is ranging, any altcoin strength stays fragile.
Sustainable alt moves need a Bitcoin breakout first.”
The “ranging” in question is the premier cryptocurrency being stuck in a narrow trading zone dominated by the nervousness of the bullish forces.
The market has remained under pressure and squeezed for the better part of the last 3 months, and it will take some effort from the bulls to ensure a sustainable turnaround. Only a strong move to $100k is likely to open up the altcoin market in the near future.
Source: https://zycrypto.com/chainlink-link-breaks-21-day-ma-as-altcoins-looking-for-upward-run-in-the-next-2-3-months/
