Altcoins launching soon? The “final showdown” is over

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This article is also available in Spanish.

After Red Monday, the cryptocurrency market appears to be heading towards a green end to the week, registering an escalate of 18.54% from this week’s lows. Altcoins have broken out of a bullish formation, fueling investor optimism about the upcoming Altseason.

Altcoins Final Showdown ‘Completed’

The cryptocurrency market rebounded from its recent correction on Friday, with Bitcoin (BTC) regaining the $100,000 mark after days of remaining below that resistance level. Similarly,

Altcoin king Ethereum (ETH) has reclaimed the $3,400 range after falling below a key support level earlier this week. Other leading altcoins such as Solana and XRP also gained bullish momentum, with the former regaining key levels and the latter approaching an all-time high (ATH).

It is worth noting that the total cryptocurrency market capitalization, excluding BTC and ETH, increased by 4% in the last 24 hours, reaching the highest level since the December retracements.

Altcoins broke from a three-year downtrend during the November-December rally, reaching its highest market capitalization of 2021 at $1.1 trillion. However, following year-end adjustments, the sector struggled to post significant gains, falling by around 25%. from the post-election summits.

Despite the results, several cryptocurrency analysts predicted that alts would post a bullish start to the year. Altcoins fell to their lowest price range in weeks on Monday, reaching a market capitalization of $900 billion, but are now once again testing last month’s highs.

Among the current appearance is Titan of Crypto suggests that “the final shock appears to have been completed.” The analyst previously assured that the “grand finale” is just around the corner, signaling that alts are about to explode.

Alts after Q1 2024 results?

Recently, an analyst pointed out that a golden cross is “inevitable” on the Altcoins chart. According to the post, “It’s only a matter of time before FOMO kicks in,” as the 2021 golden cross earlier this year ushered in a massive alternative season.

Titan of Crypto added that early 2025 “could repeat the explosive altcoin rally of early 2021,” noting that the cryptocurrency market’s performance seemed to resemble that of four years ago.

Altcoins could follow the playbook for 2021. Source: Tytan Crypto on X

Meanwhile, cryptocurrency investor Mike Bull excellent that Altcoins appear to be repeating their Q1 2024 playbook, which could lead to “rally déjà vu.”

As the chart shows, at the end of 2023, the sector broke out of the multi-month trend line, followed by a brief period of correction and a retest of up-to-date levels. Then, at the beginning of the first quarter of 2024, there was an explosion of Altcoins, which remained at high levels until March, i.e.a compelling reason why this Altseason it may last until March.

Investor he stated that the Altcoins market cap “just completed its full-load expansion retest phase” as the cryptocurrency market cap, excluding the top ten tokens, broke out of its 42-day accumulation period, which meant that “altcoins will surge.” “

Similarly, analyst Jelle emphasized that Alts do formed a bullish pennant “just below all-time high resistance” that could lead to a massive rally once it is broken. Following the recent rally, Altcoins have broken out of a bullish pattern, leaving “price discovery just inches away.”

altcoins
The total cryptocurrency market capitalization, excluding BTC and ETH, is $1.51 trillion. Source: TOTAL2 enabled TradingView

Featured image from Unsplash.com, chart from TradingView.com

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