Altcoin prices hit key lows, forming a demand zone as sellers lose momentum.
Low trading volume and thin supply create conditions for rapid upward price movements.
Short squeezes and momentum-driven buying can fuel powerful altcoin price rallies.
Altcoins have created a higher low pattern, suggesting sellers are losing steam in pushing prices anymore lower. With major lows being set, altcoins are settling into a low-volume, range-bound state. This shift might just be the beginning of a steady upward trend for the altcoin segment.
The market cap of altcoins (excluding Ethereum) has climbed above $600 billion. This bullish move followed a correction, which hints at more upward movement to come. If this level holds, altcoins could be headed for a significant upswing that could last for several weeks.
Low Volume and Negative Sentiment
The market, for the moment, feels bearish. Many traders are losing money as prices linger at low levels. Trading volumes have dried up, and small candles have ruled the charts for weeks. This pattern signals a lack of market activity and investor interest. Yet, order books are shrinking on the supply side, hinting at lim…
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