Are we about to enter the stage of 2x - 3x accounts overnight? This sign is reappearing Uptrend 2020!
The crypto market is continuously recording positive news, such as the SEC approving the Spot Ether ETF, the US Government supporting crypto, the continuous flow of money into Bitcoin ETF,... Big cap altcoins receive inflows. Money is also a good condition to start the altcoin season.
The altcoin capitalization chart TOTAL3 (crypto total market cap excluding BTC & ETH) has responded very well to the Support Bands indicator. TOTAL3 has created a 2-bottom model below the Support Bands similar to the 2019-2020 period. Accordingly, the time to retest Support Bands after creating a bottom is the final accumulation area when the market grows strongly!
TOTAL3 successfully retested the Support Bands with 2 strong withdrawal candles. Therefore, it can be said that this is a very hard support zone for altcoins. If the scenario repeats, altcoins may gradually increase in price over the next 2-3 months, before truly exploding by the end of 2024.
At that time, it was completely feasible for altcoin prices to be 2x, 3x or even 5x overnight!