Altcoins Surge 18.54% as Analysts Declare Final Shakeout Completed
The crypto market has rebounded with an 18.54% increase from this week's lows, signaling potential optimism for an upcoming Altseason.
Market Recovery Highlights
- Bitcoin reclaimed the $100,000 mark after recent lows.
- Ethereum returned to the $3,400 range following a dip below key support.
- Total market capitalization excluding Bitcoin and Ethereum rose by 4% in 24 hours, reaching its highest since December.
- Altcoins broke out of a three-year downtrend, achieving a market cap of $1.1 trillion.
- Recent lows saw altcoins drop to a $900 billion market cap but are now retesting prior highs.
Analysts’ Insights on Future Trends
- Analyst Titan of Crypto indicated that a "final shakeout" is complete, predicting imminent bullish movements.
- A golden cross in altcoin charts suggests potential for FOMO and rally similar to early 2021.
- Miky Bull noted patterns resembling Q1 2024 could lead to a significant rally.
- Overall sentiment indicates that altcoins may continue their upward trend until March.
Key Indicators
- Altcoins have completed a 42-day accumulation period, indicating readiness for a rally.
- Formation of a bullish pennant suggests potential for a substantial breakout near all-time high resistance.
