Is the Altcoin Bull at the Door? Experienced Names Commented on the Market!

While cryptocurrency investors were waiting for a boom in altcoins, analysts commented on the current situation.

Following the US spot Ethereum ETF approval, all eyes turned to the altcoin market. Especially meme coins have recorded significant increases in recent days and approached resistance levels.

Making a statement on the subject, the cryptocurrency analyst named "Trader Tardigrade" pointed out the Inverted Head-and-Shoulders (TOBO) formation in the total2 data and emphasized that a break may occur within a few weeks:

If Total2 breaks this Inverted Head and Shoulders Pattern, the altcoin market will increase by 3x. We have now come to the end of the right shoulder. According to this pattern, a break is expected within a few weeks.

Popular analyst Michaël van de Poppe said in a recent X post that the altcoin market may consolidate a little more before starting its journey to new peaks:

Some more consolidation is likely to occur before a clean breakout of the all-time high is possible. This cycle will see total market capitalization rise to $15 trillion.