ALTCOIN SEASON AHEAD? Key Indicators Flash Green as Altcoins Hit Historic Oversold Levels

Despite the market’s Fear and Greed Index remaining low, analysts believe an Altcoin Season is increasingly possible in November, thanks to two major technical and on-chain metrics indicating that altcoin prices may have hit a decisive bottom.

I. The Key Metrics Signaling a Rebound

The forecast for a potential rally is triggered by two specific chart indicators: Altcoin Performance Chart (OTHERS/BTC): The value of altcoins (excluding the top 10) relative to Bitcoin, represented by the OTHERS/BTC chart, has shifted into a “Stabilization” zone. This suggests that downside pressure, which caused sharp declines due to October’s deleveraging, is easing, and prices are forming a stable base.Historic Oversold RSI: The Others Dominance (OTHERS.D) monthly RSI (Relative Strength Index) has entered an extremely oversold zone, hitting the deepest oversold level ever recorded in history. This technical state suggests that seller pressure is exhausted, and a significant bounce or reversal may be imminent. (Note: The general Altcoin Season Index currently remains below 50, indicating lingering market fear has yet to fully subside.)

II. The Technical Requirement and Projected Path

The altcoin market needs to successfully navigate its current base to validate the bullish forecasts: Pattern to Break: To confirm a strong rally, the Stabilization zone on the OTHERS/BTC chart must hold as support.Projected Path: If support holds, analysts predict two scenarios:Cautious View: Short-term relief moves that help release downside pressure, but not a full-scale alt season yet.Bullish View: A major recovery comparable to historical market bottoms in Q4 2016 and Q1 2020, both of which were followed by explosive, full-scale bull runs.

III. Conclusion: The Rally Catalyst

The potential altcoin rally will be ignited by the combined effect of: The Stabilization zone holding as support on the OTHERS/BTC chart, which then validates the extremely oversold RSI readings and confirms that seller exhaustion has been reached, allowing fresh capital to fuel a sustained bounce higher starting in November.

Disclaimer

This article is for informational purposes only and is based on third-party analyst commentary and technical analysis. The views expressed do not constitute financial, investment, or trading advice. The cryptocurrency market is highly volatile and speculative. Readers must conduct their own thorough research and consult with a qualified financial advisor before making any investment decisions.