#ALTS MARKET CAP ANALYSIS

The ALTS market cap is trading within a descending triangle pattern and is currently attempting to break its horizontal demand zone. A breakdown from the triangle, followed by a successful retest of the broken support, would likely lead to a further decline in the ALTS market. This scenario would confirm the bearish sentiment and indicate a continuation of the downward trend.

However, there is also the potential for a bounce from the demand zone within the triangle. The Ichimoku Cloud is positioned above the triangle and is acting as resistance. If the market breaks out from both the descending triangle and the Ichimoku Cloud, it would serve as a strong bullish confirmation, signaling a potential reversal and the start of an upward trend for the ALTS market.