#ALTS altcoin market cap is currently experiencing critical movements that could indicate significant shifts in the market. After successfully breaking out of a falling wedge pattern, the market cap has been retesting this breakout at higher levels. Despite this positive movement, the market is still trading within the Ichimoku Cloud, which serves as a key resistance area.
A successful breakout above the Ichimoku Cloud, coupled with sustained trading above the 200-day moving average, could confirm a strong bullish rally in the altcoin market. On the other hand, if the market fails to maintain this momentum and gets rejected by the Ichimoku Cloud, it could lead to further downside and correction.
Overall, the market is at a pivotal point where a confirmed breakout could lead to substantial upward movement, potentially driving the altcoin market cap to higher levels
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