Altcoin Season Hopes Rise as Technical Signals Improve

The cryptocurrency market has shown signs of improvement in February, with several analysts predicting that an altcoin season could emerge in March.

Data from CryptoQuant reveals that only around 5% of altcoins listed on Binance are trading above their 200-day simple moving average. This suggests that a majority of altcoins remain below this level, indicating weak performance.

However, historical patterns suggest that the current ratio may be nearing a turning point. Over the past two years, this ratio typically stayed below 15% for a maximum of five months before rebounding.