With Altseason just around the corner, is it time to buy dip?

Altseason talk is still ruling the crypto community despite market volatility. However, most analysts agree that it's not here yet so is this the last chance to buy the dip?

Altcoins are currently on a retreat which could provide more opportunities to load ahead of the alseason.

Altcoins on the Cusp

Analysts are taking another look at altcoins following a recent rally that pushed the total market cap to an 18-month high of $1.5 trillion.

In the year November 27 Crypto trader Jacob Canfield said: “This is not Alseson yet…” He pointed out that Bitcoin's hegemony has fallen and that it is currently too small. “Most altcoins are hemorrhaging against Bitcoin, but rising against USD,” he said.

“The real recession begins when bitcoin's dominant market structure turns bearish.”

According to Tradingview, Bitcoin's dominance is currently 52.8% and has fallen this month as altcoins have.

However, the altseason may be around the corner when considering the Bitcoin chart minus the total cap. Earlier this month, BeInCrypto reported that altcoin markets are about to break out of their bullish zone.

Moreover, the rarely seen technical indicator for altcoins was about to break out with a golden cross on the monthly time frame.

Read more: 7 must-have cryptocurrencies for your portfolio before the next bull run

On November 28, analyst “Muro” said that there is a little more correction especially for Ethereum.

Over the past few weeks, altcoins have rallied well but are currently facing resistance which is short-term bad, he said. “But the good news is that support has been provided and after a small correction, it seems inevitable that a rally will occur,” he added.

Crypto trader “Jelle” added, “After two weeks of consolidation, altcoins are starting to look good again.

Today's gainers and losers

Crypto markets are heading back into the red today as they continue to bounce back from weekend highs. Total capital fell 1 percent or more to $1.45 trillion but remained flat for November.

Most high-cap altcoins were in the red at the time of writing. These include Solana (SOL), Cardano (ADA), Dogecoin (DOGE) and Tron (TRX) falling 3-5% per day.

Big losses were seen in Chainlink (LINK), Cosmos (ATOM), Lido DAO (LDO) and Aptos (APT).

Only Toncoin (TON) and Uniswap (UNI) were trending up, posting gains of 2.5% and 3.3% respectively.