Top 5 Altcoins from the 2021 Bull Run Poised for Explosive Growth in the Current Cycle

As Bitcoin faces resistance on its journey toward the $100,000 milestone, market participants are witnessing a resurgence of interest in altcoins. Historically, altcoins have rallied during Bitcoin's consolidation phases, delivering substantial returns for investors. A similar trend may be unfolding this cycle, sparking speculation about potential breakout opportunities in the altcoin market.

This analysis highlights five key altcoins from the 2021 bull run that are showing signs of significant growth potential as Bitcoin's dominance wanes and traders gear up for the next phase of the cycle.

Bitcoin Dominance Drops, Setting the Stage for Altcoin Gains

On November 18, Bitcoin’s dominance reached 61.53%, its highest level since 2021. However, as of November 26, it has declined to 58.97%. A reduction in Bitcoin dominance typically signals a shift in capital flows toward altcoins, often marking the beginning of an altcoin season—a period where a majority of tokens outperform Bitcoin over a 90-day timeframe.

During the 2021 bull run, Bitcoin’s dominance fell to 40%, triggering massive rallies across the altcoin market. A similar scenario could play out this cycle, offering traders an opportunity to capitalize on altcoin momentum.

Signs of an Approaching Altcoin Season

The altcoin season index, a metric from Blockchaincenter.net, has been steadily climbing. The index measures whether 75% of the top 50 altcoins outperform Bitcoin over a 90-day period. While the current value of 57 suggests progress, it has not yet reached the 75-point threshold that signals an "altcoin season."

However, the upward trajectory of the index indicates that traders should prepare by identifying promising altcoins to include in their portfolios ahead of a potential market shift.

Altcoins from the 2021 Bull Run Set for a Comeback

Several altcoins that thrived during the 2021 bull run are showing strong technical and on-chain signals, indicating the potential for significant gains this cycle. These include:

• Avalanche (AVAX)
• Polkadot (DOT)
• Fantom (FTM)
• Internet Computer Protocol (ICP)
• Sui Protocol (SUI)

Santiment data reveals a spike in total open interest for these tokens on November 22, with sustained levels above the average since then. Trading volume and on-chain activity have also increased, suggesting renewed interest among crypto traders.

Technical Analysis and Price Targets

Avalanche (AVAX)

AVAX has surged nearly 20% in the past week and could extend its gains by another 55%, targeting the psychologically significant $80 level. Key indicators:

• Relative Strength Index (RSI): Nearing the overbought zone but still under 70.
• MACD: Bullish momentum with green histogram bars above the neutral line.

Fantom (FTM)

FTM has rallied 44% and could revisit its March 2024 peak of $1.2292, with a long-term target at $1.6817.

• MACD: Supports further gains.
• Support Levels: Strong at the 50-, 100-, and 200-day exponential moving averages.

Sui Protocol (SUI)

SUI trades at $3.4350 and has potential for a 15.26% rally to reach its 2024 peak at $3.9409.

• Support Levels: 50-day EMA at $2.6631.
• RSI: Upward sloping, indicating bullish momentum.

Internet Computer Protocol (ICP)

ICP ended a prolonged downtrend on November 22 and could climb to $20.9850, its 2024 peak.

• Key Resistance Levels: $13.3870, $15.1800, and $17.3990 (Fibonacci retracements).
• Support Levels: $9.4790 in case of a correction.

Polkadot (DOT)

DOT has added 33% recently and could extend gains by 50%, targeting $11.8890. The March 2022 peak of $23.850 remains a long-term goal.

• MACD: Indicates a bullish outlook.
• Support Levels: Found at $4.7040.

Key Considerations for Traders

A resurgence in altcoin prices depends heavily on Bitcoin’s dominance and price trajectory. Should Bitcoin cross $100,000 and continue its ascent, the altcoin season may be delayed until early 2025. However, if Bitcoin consolidates, capital rotation into altcoins could accelerate, paving the way for significant rallies in tokens like AVAX, DOT, FTM, ICP, and SUI.

This evolving market dynamic underscores the importance of timing and strategic portfolio adjustments as traders prepare for potential altcoin-driven gains in the coming weeks.