Mid-cap altcoins lead market advance, hinting at broader altcoin season.

Dogecoin, Solana, and ONDO led gains among mid-cap cryptocurrencies, with smaller tokens following suit, suggesting a potential shift towards broader altcoin market strength. Analyst Ash Crypto points to an $835 billion support bounce in the total altcoin market capitalization, drawing parallels to pre-rally structures observed in earlier altcoin seasons of 2024.

Bitcoin traded near $94,000, holding onto most of its initial gains despite cooling trading volume. Inflows into U.S. spot-based ETFs helped offset profit-taking, preventing prices from falling below the $92,000 psychological level. Following the initial Bitcoin surge, focus shifted to mid-cap altcoins. Dogecoin rose approximately 3.3 percent, Solana gained roughly 2.7 percent, and ONDO experienced an over 11 percent jump during Friday's Asian trading session. Double-digit gains were also seen in smaller-cap tokens like STX, SUI, and GRT, indicating a broadening of the price action beyond the top ten cryptocurrencies.

WHY ALTCOIN SEASON MAY BE IMMINENT?

• Altcoin market cap rebounded from the $835B support level, mirroring Q1 and Q4 2024.
• Two previous altcoin seasons followed similar patterns (March and November 2024).
• A potential new wave could emerge in Q2 2025.
• "OTHERS" (altcoins outside the top 10) are leading the price movement.

Ash Crypto highlights the altcoin market cap's rebound from the $835 billion support level, a key indicator that previously marked corrections in the first and fourth quarters of 2024. This pattern, he argues, resembles the market conditions preceding past altcoin rallies.

However, the CoinMarketCap Altcoin Season Index remains at 15 out of 100, with Bitcoin dominating 63.4 percent of the total market capitalization. The Fear & Greed Index sits at 52, suggesting neutral sentiment rather than widespread euphoria.

Positive economic developments, such as a three-month pause on new U.S. tariffs and ongoing trade negotiations between the U.S. and Vietnam, provided support for risk assets. The Federal Reserve's announcement of a slower pace of quantitative tightening next month, and the possibility of future rate cuts if data warrants, could increase liquidity available for speculative investments.

Institutional interest in non-Bitcoin assets is also growing, with nearly forty spot ETF applications for cryptocurrencies like Solana, XRP, and Dogecoin awaiting SEC review. Approval of any of these applications could significantly increase regulated capital flowing into these tokens, which currently rely primarily on retail investor activity.

Currently, traders are monitoring on-chain whale accumulation and the tightening trading range between $90,000 and $95,000 for Bitcoin. While consolidation is the prevailing trend, historical data suggests that periods of Bitcoin price stability often precede broader altcoin market movements. A measured approach, focusing on liquid assets and monitoring macroeconomic news, may be beneficial for investors seeking to capitalize on the next altcoin market rotation.

Source: DOGE/Tradingview

Dogecoin (DOGE) is currently trading at $0.1827, with a minimal daily change of -0.01%. The token has shown significant strength over the past week, gaining +17.12%, but remains -42.10% year-to-date and approximately -62.5% below its all-time high of $0.4875. Technically, DOGE has crossed the 50-day EMA, suggesting a potential bullish reversal. Key resistance is at $0.208, while support lies around $0.165–$0.155. Analysts suggest a potential descending triangle breakout, with accumulation observed around the $0.15 level.

Source: DOGE/Tradingview

A break above $0.208 could push DOGE towards the $0.25–$0.30 range. The Relative Strength Index (RSI) shows a neutral-bullish trend, and increasing volume hints at further momentum if positive sentiment continues. Fundamentally, DOGE benefits from ongoing anticipation of potential ETF-related news and its use in tipping, NFTs, and broader Web3 applications. With a market cap of $27.21 billion and a 24-hour trading volume of $1.70 billion, it remains a highly liquid and closely watched altcoin.

Source: DOGE/Tradingview

A strong volume-driven break above $0.208 could propel DOGE to $0.233 within 4–5 days, supported by technical indicators and increased ETF speculation.

Source: SOL/Tradingview

Solana (SOL) is currently trading at $152.92, with a modest daily gain of +0.21%. It has seen impressive gains of +13.36% over the past week and +6.39% over the past month. However, SOL is still down -10.43% over the last 6 months and -19.04% year-to-date, indicating ongoing recovery from recent market corrections.

Source: SOL/Tradingview

Solana boasts a market cap of $79.10 billion, a 24-hour trading volume of $4.37 billion, and a circulating supply of 517.44 million SOL. Technically, SOL is testing resistance near $153 after rebounding from support at $145.66. Sustained bullish momentum could push prices towards $168–$170, and potentially $180–$200 (a previous distribution zone).

Source: SOL/Tradingview

On the downside, rejection at $153 could lead to a pullback to $143.50 or $135. Bullish momentum indicators and a potential inverted head-and-shoulders pattern suggest further upside potential. Fundamentally, Solana continues to attract both institutional and retail interest, with strong network usage in NFT and decentralized finance (DeFi) ecosystems. ETF speculation also adds to its institutional appeal. A sustained break above $153 with strong volume could drive SOL to $165.80 within 4–5 days.

Source: ONDO/Tradingview

Ondo Finance (ONDO) is currently trading at $0.9985, with a daily gain of +1.88%, continuing a bullish trend that has seen +20.28% growth over the past week and +8.64% over the past month. Despite being -25.64% year-to-date from its all-time high of $2.15, ONDO is up +232.57% since inception. It has a market cap of $3.15 billion and a 24-hour trading volume of $480.5 million.

Source: ONDO/Tradingview

Technically, ONDO is approaching the $1.00 resistance level, a potential breakout point. A sustained close above this level could push prices towards $1.15 and $1.28. Support levels are at $0.94 and $0.89. The chart suggests bullish continuation, supported by increasing address activity and strong fundamentals.

Source: ONDO/Tradingview

Fundamentally, ONDO is a leading real-world asset (RWA) token, recently partnering with Visa on the USDG initiative, enhancing its institutional credibility. Analysts note a 390% surge in new addresses, indicating growing interest. A positive regulatory environment could further boost the token's price. A sustained break above $1.00 could drive ONDO to $1.14 within 4 days.