The Altcoin Market has dropped around 40% from the 2024 top 📉
$SOL is below $140
$RENDER lost $6 support
$NAKA < 90 cents
$RIO lost $0.8 level
$INJ below $19
Dips around 50% in a bull market is concerning.
Right?
Quite similar to what we witnessed before the ATH rallies of 2021.
The key reason this happens is because people Buy Low and Sell High (Sounds like you or not?)
WHAT HAPPENED IN 2021 ?
The Altcoin Market Cap is showing a similar dip to what we saw back in April 2021.
Remember that time? It felt like the top was in. Bitcoin was at $64k, and the market was buzzing.
Then, BAM! The market cap got slashed in half, and Bitcoin tumbled from $64k to $30k. It felt like the end.
But it wasn't. 📈
Take a closer look at the chart. In 2021, after the steep drop, the Altcoin Market Cap went on to reach new heights.
We were in the midst of a bull market that many thought had ended. Instead, it roared back with a vengeance.
SITUATION RIGHT NOW !
Fast forward to now, and we're seeing a similar pattern.
The market's taken a hit, and everyone’s feeling uneasy.
But is this the end, or just another shakeout before the next leg up?
Key Levels to Watch
RSI: We're not oversold yet, but we’re getting close. Historically, these levels have been where big moves start.
Market Cap: We're around the $600B mark, just like after the April 2021 dip. Back then, it was the springboard for the next surge.
Could history repeat itself?
So, what's your take? Is this just another temporary dip before we see a new altcoin season? Or are we in for a longer downturn?
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