Altcoins Set to Soar: Analysts Predict Explosive Rally

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Following a crimson Monday, it appears the crypto market is heading towards a verdant conclusion to the week, with an 18.54% rise from this week’s lowest points. The altcoins have burst free from a bullish pattern, sparking investor enthusiasm for the impending Altseason.

Altcoins Final Shakeout ‘Completed’

Last Friday, the cryptocurrency market bounced back following a period of correction. Notably, Bitcoin (BTC) surpassed the $100,000 threshold once again, having previously struggled to break through this barrier for several days.

ETH, often referred to as the Monarch of Altcoins, regained the $3,400 zone following a dip beneath a significant support point earlier in the week. Notably, other prominent altcoins such as Solana and XRP have also experienced an increase in bullish energy. Interestingly, Solana has reclaimed important thresholds, while XRP is approaching its record high (ATH).

Remarkably, the overall market value of cryptocurrencies, other than Bitcoin and Ethereum, rose by 4% over the past 24 hours, reaching a peak not seen since the market corrections in December.

During the November-December surge, altcoins ended a three-year decline and reached their highest market value since 2021, amounting to $1.1 trillion. Yet, following the post-New Year adjustments, the sector encountered difficulties in making substantial growth, falling approximately 25% from its peak set after the elections.

Regardless of earlier predictions about their performance, various crypto analysts had forecasted that alternative cryptocurrencies (Alts) would have a positive start in the year. On Monday, these digital currencies reached their lowest price range in several weeks, dropping to approximately $900 billion market capitalization, but are now attempting to reclaim their previous highs from last month.

In the present market scenario, the crypto giant posits that the “major sell-off appears to be over.” Earlier, the same analyst predicted that a significant event, resembling a “spectacular ending,” was imminent, hinting at an impending surge for alternative cryptocurrencies.

Alts Following Q1 2024 Performance?

Lately, the analyst has noted that a “golden cross” is about to appear on the Altcoins chart. As suggested in the post, it won’t be long before fear of missing out (FOMO) takes hold, as the golden cross that occurred at the beginning of 2021 ignited a significant Altcoin rally.

A major player in cryptocurrency predicted that the start of 2025 might mirror the dramatic surge of altcoins seen at the beginning of 2021, observing a striking similarity between the current market trends and those observed four years prior.

Currently, crypto investor Miky Bull observes a pattern similar to the one seen in Q1 of 2024 with altcoins, suggesting a potential repetition that may result in a “familiar rally.

According to the graph, the sector surpassed a long-term trendline towards the end of 2023 after a short period of correction and retesting. Following this, Altcoins experienced a significant surge at the start of Q1 2024, rising steadily until March. This strong upward trend is likely why this Altcoin boom could continue until March.

The investor stated that the Altcoins market has concluded its strong retest of the Expansion phase, implying that an upward trend for Alts is imminent. This prediction is based on the fact that the total crypto market value, excluding the top ten tokens, has surpassed a 42-day consolidation period, signaling potential growth in Altcoins.

Analyst Jelle pointed out that Altcoins had shaped a bullish pennant near their record-high resistance level. Once this resistance is surpassed, there could be a significant upward trend. Following the recent surge, Altcoins have broken free from this bullish pattern, with price movement close to being determined.

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2025-01-18 09:40