Analysts Forecast Major Altcoin Rally as Market Tests Key 5-Year Support
- Charts from market watchers signal a major altcoin rally is near.
- Altcoins sit at a 5-year trendline, indicating strong support.
- Analysts predict a potential $3 trillion altcoin market by 2025.
Altcoin investors have reason to be optimistic, as a new analysis by a crypto analyst, Moustache, suggests that the market is on the brink of a significant rally. In a detailed chart analysis, Moustache highlights that altcoins are currently sitting on a trendline that has been in place for five years.
This trendline, combined with the altcoin market reaching the bottom of the Keltner Channel, could be signaling the start of a new altcoin season, similar to previous cycles in 2020 and 2021.
A Rare Opportunity in the Altcoin Market
Moustache’s chart analysis reveals that this scenario has occurred three times in the past, with each instance followed by a rapid market rise in the months that followed.
The trendline has acted as a key support level, and the current position of altcoins suggests that another opportunity for growth is emerging—an opportunity that Moustache describes as one that “only arises every few years.”
This analysis is supported b…
The post Analysts Forecast Major Altcoin Rally as Market Tests Key 5-Year Support appeared first on Coin Edition.
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Analysts Forecast Major Altcoin Rally as Market Tests Key 5-Year Support
- Charts from market watchers signal a major altcoin rally is near.
- Altcoins sit at a 5-year trendline, indicating strong support.
- Analysts predict a potential $3 trillion altcoin market by 2025.
Altcoin investors have reason to be optimistic, as a new analysis by a crypto analyst, Moustache, suggests that the market is on the brink of a significant rally. In a detailed chart analysis, Moustache highlights that altcoins are currently sitting on a trendline that has been in place for five years.
This trendline, combined with the altcoin market reaching the bottom of the Keltner Channel, could be signaling the start of a new altcoin season, similar to previous cycles in 2020 and 2021.
A Rare Opportunity in the Altcoin Market
Moustache’s chart analysis reveals that this scenario has occurred three times in the past, with each instance followed by a rapid market rise in the months that followed.
The trendline has acted as a key support level, and the current position of altcoins suggests that another opportunity for growth is emerging—an opportunity that Moustache describes as one that “only arises every few years.”
This analysis is supported b…
The post Analysts Forecast Major Altcoin Rally as Market Tests Key 5-Year Support appeared first on Coin Edition.
Read More