🚀 Market experts foresee significant rallies in the altcoin space, highlighting the current stage of market disbelief 👀

Key indicators under scrutiny include the 20-day EMA, stochastic RSI, and Bitcoin dominance.

Altcoin market cap remains above $250 billion despite a recent 17% drop, signaling potential upside.

The altcoin market, often overshadowed by Bitcoin, could be on the brink of a major rally, according to several market observers. These experts are closely monitoring technical indicators that could signal an imminent increase in the value of alternative cryptocurrencies.

In a recent piece on X, widely followed crypto analyst Milkybull suggested that the altcoin market is currently in a "disbelief stage." This phase is characterized by investor skepticism despite positive market trends.

Historically, this stage has preceded a robust rally, observed the analyst. Milkybull highlighted cases during the 2016 and 2020 cycles where such events were followed by explosive gains for altcoins.

According to TradingView, the total valuation of altcoins has declined by 17.55% over the past 30 days to reach $264.9 billion. Notably, this valuation excludes the market capitalization of the top 10 cryptocurrencies.

Despite this slowdown, the market cap has managed to stay above the critical support level of $250 billion. Meanwhile, pseudonymous crypto trader Rekt Capital asserted that the market "is setting up for a future upward move."

The three indicators monitored by prominent traders include the 20-day exponential moving average (EMA), stochastic RSI, and Bitcoin dominance. The EMA provides a weighted average price over the last 20 days.

Titan of Crypto, another pseudonymous trader, pointed out that a bullish crossover on the stochastic RSI, combined with a retest of the EMA20, could signal the start of the rally period.

Currently, Bitcoin dominance stands at 54.7%, down 0.56% over the past week. According to technical analyst Yoddha, a further decline in Bitcoin dominance could trigger the beginning of an altcoin season, a period where altcoins outperform Bitcoin.

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