TOTAL2 Prints a Very Similar Chart Pattern to Both Previous Bull Cycles With ETH in the Lead

TOTAL2 prints a very similar chart pattern to both the previous bull cycles

The price of altcoins shot up between this time during the last two cycles.

Analysts expect much higher highs for ETH to follow soon.

With the pioneer altcoin, Ethereum (ETH), preparing to set a new ATH at the $5,000 price target before heading towards higher highs of up to $16,000 this bull cycle, expectations for altseason’s peak phase increase alongside it. At the moment, several analysts have noticed how TOTAL2 prints a very similar chart pattern to both the previous bull cycles and see ETH at the lead, paving the way for all altcoins to hit new highs soon

TOTAL2 Prints a Very Similar Chart to Previous Bull Cycles

The crypto bull cycle has always moved in phases, phases that make up a 4-year bull cycle. The 4-year bull cycle consists of a bear market and then an accumulation phase, which is then followed by the Bitcoin Halving event, which triggers a BTC price pump. At this time, the price of BTC sets a string of new ATH prices before BTC Dominance collapses, allowing ETH and altcoin prices to pump accordingly

This phase is the altseason phase, which is often triggered by the price of ETH breaking past its previous ATH price and going on to set new ATH prices. Once ETH starts to pump, other potential altcoins follow suit, with the cycle coming to a close with a final memecoin pump. Then the 4-year bull cycle begins all over again. Despite this blueprint playing out since Bitcoin’s inception, some analysts believe that the cycle will be obsolete after this cycle ends

Already, many signs have been pointing to the end of the 4-year bull cycle. The first being that BTC set a new ATH price before the Bitcoin Halving event this bull cycle, and the second being Q1 of the year following the Bitcoin Halving event did not see the start of altseason of its peak phase. Finally, analysts believe that heavy institutional adoption of both BTC and ETH will also contribute to the end of the 4-year bull cycle

Despite how the cycle will turn out, one thing remains certain: all crypto will maintain high prices and are expected to hit even higher ATH prices in the days ahead. As we can see from the post above, this reputed crypto analyst notes that the TOTAL2 price chart is going through a very similar cycle to the peak phase of the last two bull cycles of 2016-2017 and 2020-2021, signaling a bullish price explosion for altcoins soon and altseason arrival

Ethereum Paves the Way for Altcoins to Pump

Meanwhile, one analyst goes on to highlight Ethereum (ETH) on the chart shared in the post above. As the chart shows, the analyst confirms that the blue line is holding nicely, making it look more like the dump was just a fakeout. Still, he concludes that ETH is not out of the woods yet; however, all signs point to higher highs. This means that with ETH can see short dips, the big picture points to exceptionally high new ATH prices.