According to external sources, after months of weakness, there was a clear rebound in the Yamaya currency market, but according to several analysts, it is not yet sufficient to conclude that the market has entered a full “season season”. From 19 to 22 August, the total market value of the Yamaya currency increased by some $215.0 billion, or more than 24 per cent.
There's still a lack of confirmation of the rebound.
According to analyst Darkfost, this round has reversed a long period of depression. Before that, about 80 to 85 per cent of the coins listed on the market were running long below the 200-day average. Although there has been a large rebound in the recent past, there are signs of overheating on the market shorts, with a possible reversal in the follow-up.
Another analyst, Crypto Kid, also believes that the current situation is more like a local rotation than an identified full-scale season. Bitcoin currently accounts for about 59.69 per cent, and the market usually sees a continued drop of 58 per cent as a clearer financial switch. At the same time, Altcoin Season Index, currently 48, is still below the common 75 threshold.
XRP and SOL became major observers
According to the article, the XRP is still one of the most interesting in the world. The analyst mentioned that the XRP had previously rebounded from a line of about $1.16 to a stage increase of nearly 40 per cent, with the largest increase at one time of about 45 per cent from earlier signals. However, XRP is now approaching a more resistance zone.
On the Solana side, analysts compare the current structure with the 2023 trend, suggesting that, after some time, they are approaching critical resistance positions. If the weekly line level is repositioned at approximately $98, the follow-up may open further upspace, and $150 is considered to be an important observation point for the next phase.
HYPE and ZEC get extra attention.
Hyperliquid's token, the Hype, is also listed. According to the article, the business model of the project can generate income and support tokens through buy-backs, and has received increased attention in the current market. It was also mentioned that if future United States market access to relevant and persistent derivatives were to be expanded and platform trading activity increased, it could further boost revenue and token demand.
Zcash re-enters the field of view after price breaks. According to the article, ZEC has increased by more than 70 per cent in recent weeks and has risen to a high level since 2018. Meanwhile, Grayscale submitted two Zcash ETF-related applications in August, and the DCG subsidiary is also discussing the injection of about 200,000 ZECs into the related funds.
Overall, analysts are generally of the view that there are early signs of warming in the market, but that the continued spread of funds from Bitcoin to more is still key to any further expansion.