A cryptocurrency analyst has identified an eight-year convergence pattern on the Ethereum (ETH)-Bitcoin (BTC) trading pair chart, suggesting that it could signal the long-awaited start of the altcoin season. While rumors of an altcoin season have been circulating in the cryptocurrency space since before 2025, such a phase has yet to materialize, highlighting the continuing volatility of alternative cryptocurrencies throughout this bull market. Despite this prolonged delay, the analyst says the recent convergence structure could become a catalyst that drives the economy forward altcoin season even more powerful than that observed in 2021.
Ethereum chart structure signals a massive Altcoin season
CW cryptocurrency analyst has presented recent technical analysis suggesting a major altcoin season this cycle. The analysis is based on a multi-year chart structure ETH/BTC trading pair and outlines a unique convergence pattern that has been developing since mid-2017.
In his post on X CW, he predicts that this convergence pattern could break down down the road the current bull market cycle. The structure is observable on the weekly chart as immense descending triangle or the wedge that started when ETH/BTC peaked around 0.16. From this point on, the pair is in compression between a descending resistance line and a flat horizontal support level near the 0.020 zone.
The price action on the chart shows that ETH/BTC has reached this peak in the process bull market in 2021 but it failed to break the top descending trend line of the convergent pattern. The pair then dropped sharply and continues to trend down, now reaching the very top of the convergence pattern near the 0.029 level.
This suggests that ETH/BTC is approaching the final stage near the apex of the descending triangle. The narrowing gap between resistance and support suggests that the market may be at a critical juncture. CW suggests that a breakout from this point could end the trading pair’s eight-year squeeze within a convergence pattern. If this happens, it could signal a major shift in strength from BTC to ETH and ultimately the broader altcoin market, thus marking potential start of the 2026 altcoin season.
The 2026 Altcoin season will surpass the 2021 boom
CW emphasized in his post that his predicted altcoin season in this bull cycle could exceed the strength of the 2021 cycle, reflecting the explosive scale of the 2017 cycle. He claimed that many investors underestimate its power 2017 bull run was, noting that it delivered broader, more aggressive gains in the altcoin market rather than more selective growth in 2021.
In the previous CW analysis common separate chart from CryptoQuant, which further increases its forecast for the 2026 altcoin season. The chart, which tracks the ratio of non-BTC asset CEX volume to Bitcoin, excluding stablecoins, compares the current market setup with altcoin season 2021.
During both periods, altcoin trading activity on centralized exchanges was consistently higher than Bitcoin volume. CW notes, however, that activity in 2026 has lasted much longer than in 2021. It believes this sustained volume, combined with a potential breakout from the current ETH/BTC convergence pattern, strengthens the case for a mighty altcoin season in 2026.
Featured image from Freepik, chart from Tradingview.com
