⭐️ Altcoins About To Take Off? Analyst Says The ‘Final Shakeout’ Is Over
After a red Monday, the crypto market seems to be moving toward a green end of the week, registering an 18.54% increase from this week’s lows. Altcoins have broken out of a bullish formation, fueling investors’ optimism about the upcoming Altseason.
🔸 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. Similarly,
The King of Altcoins, Ethereum (ETH), reclaimed the $3,400 range after dipping below a key support level earlier this week. Other leading altcoins like Solana and XRP have also gained bullish momentum, with the former reclaiming crucial levels and the latter nearing its all-time high (ATH).
Notably, the total crypto market capitalization, excluding BTC and ETH, surged 4% in the last 24 hours, hitting its highest point since the December retraces.
Altcoins broke out on a three-year downtrend during the November-December rally, surging to $1.1 trillion, its highest market cap since 2021. However, the sector struggled to record significant gains after the end-of-year corrections, dropping around 25% from the post-election highs.
Despite the performance, several crypto analysts predicted that Alts would see a bullish start to the year. On Monday, Altcoins fell to its lowest price range in weeks, dipping to a $900 billion market cap, but is now retesting last month’s highs.
Amid the current performance, Titan of Crypto suggests that the “final shakeout seems completed.” The analyst previously asserted that the “grand finale” was around the corner, signaling that alts were about to explode.
🔸 Alts Following Q1 2024 Performance?
Recently, the analyst pointed out that a golden cross is “imminent” in the Altcoins chart. According to the post, “It’s only a matter of time before FOMO kicks in,” as 2021’s golden cross, which occurred at the start of that year, kickstarted a massive
#Altseason .