Falling wedge and inverse head and shoulders signal potential altcoin market reversal.
Long-term trendline support holds altcoins trade at 60-80% of previous highs.
September breakout likely as altcoin market approaches critical support levels.
The altcoin market could be on the cusp of a bullish reversal, with technical indicators suggesting a potential breakout. Following a prolonged nine-month downtrend, a falling wedge pattern has formed, potentially signaling a shift in market sentiment.
#Altcoins
Not many changes these days, but that doesn't mean we're in an exciting moment.
-Breakout of a 9 month falling wedge complete 
-Retest should also be almost complete
What comes next should please the bulls. pic.twitter.com/x2236bZ4A2
— 𝕄𝕠𝕦𝕤𝕥𝕒𝕔ⓗ𝕖 
(@el_crypto_prof) September 6, 2024
This pattern, followed by an inverse head and shoulders formation, could signal the start of a new upward trend.
Technical Patterns Hint at Reversal
The current technical analysis, which was noted by @el_crypto_prof, reveals a falling wedge pattern, often seen as a bullish reversal signal. This pattern is characterized by two converging trendlines t…
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