Altcoin Market Sentiment Shifts Cautiously Towards Potential Season

Altcoin market analysts are closely watching the potential for an altcoin season in March, following improved technical signals and historical patterns. According to data from CryptoQuant, only about 5% of altcoins listed on Binance are trading above their 200-day simple moving average (200-day SMA), indicating a weak performance.

Historical patterns suggest that this ratio typically stays below 15% for a maximum of five months before rebounding. Analysts are hopeful that investors may view most altcoins as having fallen to attractive price levels, leading to a potential demand boost.