This may be the best time to accumulate altcoins, but the alt season may be postponed

Altcoins in the recent past have manifested extreme bearish conditions due to volatility within the crypto space. If the star crypto Bitcoin falls 1%, altcoins tend to fall 10%. And so now that Bitcoin is down from its ATH by more than 60%, the major altcoins are 92-94% different from their highs. So this can be a pretty good buying opportunity, but no chance of an AltSeason is showing.

Currently, Bitcoin and most of the Altcoins appear to be quite volatile and thus took a big step south. The altcoin index, which started its downtrend just before the LUNA-UST crash, has been testing lower support for a couple of days. However, the current drop dragged the price below the support zone. And therefore currently, according to one analyst, most altcoins can consume 20-25% more.

So while most altcoins are poised to drop another 25%, it may be a good time to stock up at discounted prices. However, the price of ETH is expected to bounce a bit, which may induce significant momentum in altcoins. On the other hand, if in case these tokens ignite a strong bounce from lower support, most of them may experience a strong uptrend which certainly cannot be labeled as AltSeason.

Therefore, in the coming times, the altcoins to keep a close eye on are Ethereum (ETH), Cardano (ADA), Ripple (XRP), etc. DeFi tokens like Avalanche (AVAX), Fantom (FTM), and Chromia (CDH). And NFTs like Apecoin (APE), Decentraland (MANA), The SandBox (SAND), etc. they can be a good option.

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