Then, Altcoins exploded at the beginning of Q1 2024, rallying until March, which is “the cogent reason that this Altseason might run till March.” Related Reading: Chainlink Ready To Breakout’: Analyst Eyes $50 Target Amid Whale Accumulation The investor asserted that Altcoins market cap "has just completed its retest Expansion phase in full force loading,” as the crypto market capitalization, excluding the top ten tokens, had broken out of a 42-day accumulation period, which meant that "alts rally will follow.” Similarly, analyst Jelle highlighted that Alts had formed a bullish pennant "right below all-time high resistance,” which could lead to a massive rally once it broke.
Meanwhile, crypto investor Miky Bull noted that Altcoins seems to be repeating its Q1 2024 playbook, which could lead to a "rally déjà vu.” Per the chart, the sector broke out of a multi-month trendline at the end of 2023 before a brief correction period and retest of the new levels.
Altcoins Final Shakeout Completed’ On Friday, the crypto market recovered from its recent correction, with Bitcoin (BTC) reclaiming the $100,000 mark after days of hovering below this resistance level.
The story "Altcoins About To Take Off? Analyst Says The ‘Final Shakeout’ Is Over" has 500 words across 78 sentences, which will take approximately 3 - 5 minutes for the average person to read.
Which news outlet covered this story?
The story "Altcoins About To Take Off? Analyst Says The ‘Final Shakeout’ Is Over" was covered 5 days ago by NewsBTC, a news publisher based in United Kingdom.
How trustworthy is 'NewsBTC' news outlet?
NewsBTC is a fully independent (privately-owned) news outlet established in 2013 that covers mostly crypto news.
The outlet is headquartered in United Kingdom and publishes an average of 7 news stories per day.
It's most recent story was published 9 hours ago.
What do people currently think of this news story?
The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.
How do I report this news for inaccuracy?
You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
