Ethereum Classic and NEAR Find Life as Altcoin Rotation Heats Up After Crypto Shakeout

In a week when Bitcoin and Ethereum have been poster children for pain, the real action is quietly shifting to the altcoin underdogs. While the headlines are filled with Ethereum’s bounce above $2,000 and Bitcoin’s existential angst, the rotation into second-tier chains like Ethereum Classic and NEAR is where the smart money is starting to sniff around.

Let’s be blunt: the big caps are still reeling from a historic liquidation cascade. Bitcoin ETFs are bleeding, miners are flirting with AI pivots, and Ethereum’s funding rates are in the gutter. But the altcoin tape is showing signs of life, and that’s not by accident.

NEAR, battered by days of decline, is suddenly flashing reversal signals on key charts, according to AMBCrypto. Ethereum Classic, long the butt of crypto jokes, is quietly attracting capital as traders hunt for relative value in a market that’s been picked clean. The narrative is shifting from “everything is correlated” to “rotation is back,” and that’s a theme that could stick if the majors keep chopping sideways.

The numbers are telling. Ethereum snapped back above $2,000 after a brutal drop to the high $1,800s, but the real volume is starting to show up in altcoins. NEAR is carving out key support levels, and ETC’s open interest is ticking up for the first time in weeks. The majors are stuck in a liquidity trap, but the altcoin market is where the volatility, and the opportunity, are migrating.

The macro context is a mess. Bitcoin sentiment is at rock bottom, with Metaplanet’s continued buying doing little to stem the bleeding. Ethereum’s funding rates have collapsed, and liquidations are spiking. Yet, in this chaos, altcoins are quietly staging a comeback.

This isn’t a broad-based rally, far from it. The winners are selective, and the losers are still getting crushed. But the fact that NEAR and Ethereum Classic are showing signs of accumulation while the blue chips are stuck in the mud is a signal that rotation is alive and well. This is classic late-cycle crypto behavior: when the majors can’t get off the mat, the risk-on crowd starts hunting for asymmetric upside in the weeds.

The real story is that altcoin rotation is back on the menu. The majors are rangebound, funding is cheap, and traders are desperate for volatility. That’s a recipe for some spectacular moves in the right names, and some equally brutal rug pulls in the wrong ones.

Strykr Watch

Technically, NEAR is testing support near $2.50, with resistance at $2.85. A breakout above $2.85 could trigger a squeeze to $3.20, while a failure at $2.50 opens the door to a retest of $2.10. RSI is recovering from oversold territory, and volume is ticking up. Ethereum Classic is holding above $25, with resistance at $28 and support at $23. Open interest is rising, and funding rates are neutral, suggesting there’s room for a squeeze if the majors stay quiet.

Altcoin breadth is improving, but this is still a sniper’s market. Chasing green candles is a recipe for disaster, but selective longs in names showing accumulation could pay off. Watch for volume confirmation and be ready to bail if the majors roll over again.

The risks are obvious: if Bitcoin breaks down below $95,000, all bets are off. A sudden spike in liquidations or a regulatory headline could turn the altcoin party into a massacre. But as long as the majors hold their ranges, rotation trades have room to run.

On the opportunity side, the setup is clear: long NEAR on a breakout above $2.85 with a stop at $2.50, targeting $3.20. Long ETC above $28 with a stop at $25, targeting $32. For the brave, pairs trades against lagging majors could juice returns if the rotation theme sticks.

Strykr Take

This is late-cycle crypto at its finest. The majors are stuck, sentiment is toxic, and altcoin rotation is back in vogue. The risk is high, but so is the potential reward. If you can stomach the volatility, this is where the action is. Just don’t overstay your welcome, when the music stops, you don’t want to be the last one holding the bag.

Strykr Pulse 61/100. Altcoin sentiment is cautiously bullish, with improving breadth and selective accumulation. Threat Level 3/5. High risk, high reward, trade tight and don’t get greedy.