Altcoins on the Verge of a Major Breakout 📈
Veteran crypto analysts predict an imminent surge in altcoin prices, with technical indicators pointing towards a significant move in the altcoin market. Glassnode co-founders, Jan Happel, and Yann Allemann, known as Negentropic on X, share insights with their large following on the potential upcoming rally in altcoins.
Key Technical Signals for Altcoins 📊
- ALTS (TOTAL3) market cap excluding BTC, ETH, and stablecoins, showing signs of upward movement
- Monthly RSI and MACD indicators for ALTS potentially bottoming out
- RSI and MACD suggesting a potential surge in altcoin prices
Bitcoin Analysis 🤖
- Bitcoin still consolidating within a large pennant pattern
- Expectation of a bullish breakout based on technical analysis
- Last week’s reversal candle indicates a move back into the pennant structure
Current Market Status 💹
As of now, Bitcoin is trading at $61,038, with the altcoin market poised for a potential rally based on technical signals.
Hot Take: Crypto Market Outlook 🔥
Amidst positive technical indicators for altcoins and Bitcoin, the cryptocurrency market appears set for a significant upward movement. Keep an eye on the market for potential breakout opportunities in the coming days.
Featured Image: Shutterstock/studiostoks
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