• Bitcoin and Ethereum prices need to break through key resistance levels for altcoin season to return, crypto analyst Arthur Hayes says.
• Cryptocurrencies could break out of their sideways price trend starting September, according to Arthur Hayes. 
• Bitcoin trades sideways below $60,000 and Ether struggles under resistance at $2,750 on Tuesday. 

A week post the crypto market crash, Bitcoin (BTC) and Ether (ETH) are recovering from the correction. BTC hovers around resistance at $60,000 on Tuesday, while Ethereum struggles to break past sticky resistance at $2,750. 

Altcoins ranked in the top 30 assets by market capitalization are also reversing some of the recent losses. Traders are waiting for an altcoin season, an informal term for a period of time when the top 50 alternative assets outperform Bitcoin. 

Arthur Hayes, former CEO of cryptocurrency exchange BitMEX and crypto analyst commented in a blog post published Monday about the possibility of an altcoin season, explaining when he thinks it will come and what conditions need to be met.