The crypto market turned bullish following Donald Trump’s victory.
Crypto analysts believe the altcoin market has flipped into positive mode.
The altcoin market cap broke above crucial resistance last Wednesday.
The crypto market turned bullish following Donald Trump’s victory in the November 5 US presidential election. Crypto analysts consider the recent flip critical because of the notable signs it left on the crypto market, especially concerning altcoins and the beginning of an altseason.
TradingView’s data show that the altcoin market cap (TOTAL2) climbed above significant resistance in the election’s aftermath, raising users’ hopes that an altseason is finally here. TOTAL2 surged above $1 trillion last Wednesday, breaking above multiple resistance on the metric’s daily chart. This move pushed TOTAL2 out of a prolonged sideways trading range, leading analysts to suggest that the long-anticipated altseason may have arrived.
An altseason refers to a period during which altcoins, including Ethereum and other non-Bitcoin cryptocurrencies, outperform Bitcoin in a bull run. These events are rare and tend to be …
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