In recent weeks, interest in altcoins, excluding the largest coins, has been increasing again. What is happening in this market now, and can we expect a sharp rise? Let's figure it out.
Why does the market structure resemble a turning point?
If we look at the current price structure of altcoins, excluding the top 10 coins, it somewhat resembles the situation in the middle of the previous cycle when we observed a sharp rise. At that time, an upward trend began, and today we again see similar signs. But will this lead to a similar surge?
What is a falling wedge, and why might it be a signal for growth?
On the 3D chart, we can see the so-called 'falling wedge'. This is one of those technical patterns that are usually perceived as a bullish signal. Simply put, in such a structure, the price is decreasing but slowing down its rate of decline. This could be a sign that sellers are easing their pressure and buyers are preparing to take control of the market.
Of course, to confirm the optimism, we need to wait for a candle to close above the resistance line. This signals that the price is ready to break out of the wedge, but until we see that, the risks remain. Sometimes the price continues to move within the wedge, retesting support again. Therefore, it's important to be patient and wait for a clear signal before making decisions.
Support zone on Total 3: another sign for altcoins
Another important indicator is the Total 3 chart, which reflects the capitalization of all altcoins except for $BTC and $ETH . It shows that the price has recently successfully tested a strong support zone. Typically, such tests indicate that the market has found a solid foundation, and now there are chances for sustainable growth.
After this test, we see the price trying to overcome the resistance level. This could also be a good sign for those hoping for a rise in altcoins.
Conclusion: Are altcoins on the brink of a new growth phase?
Currently, we see two strong technical signals: a falling wedge and a successful test of support on Total 3. Together, they create a good basis for a possible upward movement in the altcoin market. However, it is always important to wait for a confirming signal — a candle closing above resistance. Without this confirmation, the market may retest support again before being ready for a breakout.
In summary, the altcoin market looks promising. The further development of the situation will depend on whether the price continues to test support or rises above resistance.
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