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The altseason debate may come down to one stubborn $ETH/$BTC level. An analyst says the pair has broken out of a falling channel and is now pushing toward 0.0355 resistance. A clean break could signal $ETH outperformance and potentially trigger the next major rotation into altcoins.
For now, that’s a theory, not a confirmed rotation. Still, $XRP, $BNB and Solana stand out besides Stables, $BTC, and $ETH, making their technical levels worth watching.
$ETH/$BTC is approaching 0.0355 after breaking above its falling channel. According to the setup displayed by the analyst on X, clearing that resistance could strengthen the case for $ETH outperformance and potentially spark an altseason.
If 0.0355 rejects again, the whole argument becomes considerably less exciting. That’s the key distinction. The market doesn’t get an altseason simply because traders want one. This setup needs the resistance break first.
$XRP is trading around $1.49 and remains below a $1.65-$1.72 resistance block. The token is also positioned around the upper border of a falling wedge, leaving a potential breakout scenario if altseason begins.
A successful move through $1.65-$1.72 could turn that range into support, with $2.00 becoming the next level and $2.62 potentially coming into focus.
The problem? $XRP failed to break the same resistance in August and September. Another rejection, especially without an altseason, could send $XRP back toward $1.00.
$BNB is in a comparatively stronger technical position, rallying from the lower border of an ascending channel while approaching $800 resistance.
A break could open the path toward $930 and $1,150 under normal bullish conditions. If altseason actually materializes, the supplied scenario puts $1,200 and even a new all-time high near $1,500 on the table.
But lose $800, and the picture changes. $BNB could remain trapped between roughly $540 and $800 for longer.
Solana is sitting around the middle trendline of a falling wedge. Without altseason, a $200 retest could be delayed significantly, potentially into next year.
If Solana reaches $200 and breaks it, $260 becomes the next stated target. On the bearish side, failure to sustain the move could expose the asset to $50 or lower.
So the altseason question remains unusually simple: $ETH/$BTC needs to clear 0.0355, while $XRP, $BNB and Solana each face their own technical hurdles.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
Updated Version 4 - Mattel Investor Ariel Urges Sale Amid Stalled Turnaround
Ariel Investments holds a 5.4% stake in Mattel and believes the stock remains severely undervalued. Mattel stated it will take into account the opinions of Ariel and other shareholders. According to sources, Authentic Brands Group approached Mattel last week, with a potential valuation of around $6 billion. Analyst comments and a chart were added in paragraph 10. Juveria Tabassum/Angela Christy M Reuters, October 5 – A letter obtained by Reuters shows that a major shareholder of Mattel (MAT.O) on Monday urged the Barbie-maker to explore a sale, citing stagnant growth in performance and profitability. Ariel Investments, holding a 5.4% stake in Mattel, stated that the company’s stock is still severely undervalued. “We believe that strategic buyers would be willing to acquire your company at a price significantly above the current share price,” Ariel Co-CEO John Rogers wrote in a letter to Mattel’s board. The asset management firm suggested Mattel's options include “divesting significant assets, mergers, and/or an outright sale of the company.” Ariel believes other toy companies may be interested in Mattel’s asset portfolio, as well as entertainment firms and traditional private equity companies. In recent years, despite Mattel’s stabilizing business and the box-office success of the Barbie movie, the company has faced fluctuating sales and rising input costs. Operating profit has declined for six consecutive quarters. In after-hours trading, Mattel's shares rose 0.9% to $16.20. Ariel’s initiative comes as Mattel undergoes leadership changes (link). CEO Ynon Kreiz stepped down last month to become Co-CEO of Paramount Skydance (PSKY.O), while board member Roger Lynch—former editor-in-chief of Vogue and head of Condé Nast, parent company of The New Yorker—will assume the CEO role next month. Mattel replied to Reuters by email: “Our board and management team are committed to acting in the best interests of all shareholders, and will consider the views expressed in the letter from Ariel Investments, as well as those of other Mattel shareholders.” This is the second time this year investors have asked Mattel to consider strategic options. In May, Mattel investor Southeastern Asset Management called for the company to explore various options (link), including privatization, acquisition by competitor Hasbro (HAS.O), or by a major media company that could value Mattel’s assets more fairly than the public market. Last week, a person familiar with the matter told Reuters that Authentic Brands Group (AUTH.N) approached Mattel about a potential acquisition (link), which could value the toymaker at about $6 billion or higher. The source noted that there is no guarantee Mattel will accept Authentic Brands’ proposal, and the company is not conducting a formal sale process at this time. Following the news, Mattel’s share price soared. Despite the rebound, the stock remains down about 20% year-to-date. According to London Stock Exchange Group (LSEG) data, Mattel’s 12-month forward price-to-earnings ratio stands at 9.99, compared to an industry average of 14.03. “I think this just reflects the market’s frustration about the business possibly being a bit stagnant. Given the current level of valuation, now may be a good time to turn around the business away from the spotlight of investors,” said Morningstar analyst Jaime Katz. (For the convenience of non-English speakers, Reuters automatically translates its reports into several languages. As automated translations may contain errors or lack context, Reuters does not guarantee the accuracy of automated translation texts and provides them solely for readers’ convenience. Reuters assumes no liability for any loss or damage resulting from the use of the automated translation feature.)
42% premium, five years to break even with capital cost, Schneider Electric sets record with $23 billion acquisition of PTC, stock price plunges
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