• Bitcoin (BTC) hovers at the $62,000 price range and altcoins show hints of rallies.
  • While some altcoins have already begun to pump, others are completing healthy corrections.
  • TON price could fall to $4.8 before altseason and the inevitable pump arrives.

Bitcoin continues to hover in the $62,000 price range and analysts have taken to having a closer look at altcoins while Bitcoin takes its time to build momentum. The sentiment for a Bitcoin price pump may not be as loud but is still very much alive as many analysts expect a massive surge to ATHs of $220,000 and above for BTC this cycle. 

Altcoins in a Frenzy, Which Will Spike First?

Until then, analysts are keeping a close watch on altcoins. With expectations for a highly bullish altseason to arrive end of Q4 or the start of Q1 next year, it is crucial to keep a close eye on trending signals in altcoin charts. Historically, altseason has seen the bull wave in Q1 after a bullish Q4 in a Bitcoin Halving year. Analysts are predicting the same will likely occur this cycle. 

Presently, the actions of altcoins seem to be both bullish and corrective. In the case of FET and SUI, the assets have already made impressive gains and SUI is nearing its previous ATH. Meanwhile, assets like ADA, VET, SHIB, and DOGE, these popular altcoins are printing bullish signals on their price charts but are yet to make significant moves.  

TON Could Dip Further Before Pump 

Meanwhile, some assets like JASMY are facing intense corrections before making significant upward movements as hinted by their bullish price chart signs. One asset in particular that could be facing another correction is The Open Network ’s TON. According to one analysts observations, TON seems to be hanging by a thread.

#TON is hanging by a thread from breaking down of this 4h Descending Triangle! The potential target is $4,8 🎯 pic.twitter.com/da9WTs0v9a

Read CRYPTONEWSLAND on google news

— The Moon (@TheMoonCarl) October 8, 2024

As we can see from the post above, TON is hanging by a thread from the breaking down of a 4-hour descending triangle. According to CoinMarketCap analytics, the price of TON is currently at $5.22. The analyst expects TON to dip further to a potential target of $4.8 before making a rally as altseason commences. 

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