Are Altcoins About to Break Out? Why Now Is the Best Time to Buy
The total market capitalization of the crypto ecosystem is currently $2.2 trillion, up 1.02% in the past 24 hours. Despite the growth, trading volume has declined, falling 6.53% to $82.56 billion.
Altcoins have played a major role in these developments, drawing attention to their importance to investors. This influence is reflected in the TOTAL3 chart, indicating the best time to enter the market.
Using the TOTAL3 chart, it is found that the Altcoin Index is in a Downtrend Regression Channel.
A Downtrend Regression Channel is a technical analysis tool used to depict downward price trends. It features a central regression line that indicates the average trend, flanked by parallel resistance (above) and support (below) lines that determine price boundaries.
Historically, this pattern often foreshadows a breakout above the upper resistance line, which could signal a new high. As the cryptocurrency market appears to be maturing, altcoins could soon rebound.
