The analyst identifies the best picks for the rebound

• A crypto analyst says technical indicators show the tide is turning and the long-awaited altcoin season beckons, with some popular coins already posting gains in recent days.
• He added that 99% of meme coins will be abandoned and investors will lose their money, urging investors to focus on more trustworthy altcoins, especially those targeting AI.

Altcoin season is almost here and traders who invest in the right tokens will make millions, says a crypto analyst.

Known as the House of Crypto to its 137,000 subscribers, the analyst based his prediction on the MACD’s bearish crossover into Bitcoin dominance. The last three times this has happened (2017, 2020, and 2021) have ushered in altcoin season, as shown below.

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The analyst He says that the crossover is happening right now, “and we are about to fall into another altcoin season.”

According to the analyst, cryptocurrencies go through three phases before a massive breakout. The first is the depression, where prices are driven down and retail trade stays away. It is followed by a short-lived price increase, known as the hope phase, which attracts retail.

However, the third phase, known as the shakeout, is characterized by a massive decline that rattles retail and casual investors. This is when the big money comes in and accumulates the tokens, setting the stage for huge gains.

We know this game is rigged to get you some of your money.

The analyst believes that we are at the end of the shakeout and about to embark on a massive bullish rally for altcoins.

He singled out BeamX as an altcoin with a strong upside: the token gained 15% in the last day after a sharp decline earlier in the week. He also said that Render, SingularityNET’s AGIX and Arweave are in a big buying phase: they have all seen declines in the last week.

The analyst warned against investing in XRP, XTC, XLM and QNT, which he said “show no signs of strength.”

Meme coins have been among the biggest gainers in altcoin seasons. However, investing in 99% of meme coins may be too big a risk, according to the analyst. There are some that will match the momentum of the altcoin season and reach new highs.

He compared meme coin mania to the NFT hype of 2022, in which several celebrities stepped in to purchase millions of dollars’ worth of BAYC NFTs. Many of these NFTs now cost less than a tenth of their original price. In the current meme market, celebrities have begun to mimic, including rapper Iggy Azalea with the MOTHER meme coin, which has sparked controversy, such as Crypto News Flash reported.

Most cryptocurrencies remained in the green over the past day, but fell more than 10% over the past week. DOGE, SHIB, Dogwifhat and FLOKI lost 15%, while others like BONK lost more than 20%.

The analyst noted:

Cryptocurrencies go from periods of excitement and hype to periods of doom and gloom, which cause prices to fall, and this cycle will always repeat.

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