Is the price action of some tokens like $RARE leading the way?
The crypto market has been in a downtrend since March 2024, when Bitcoin broke its ATH several times in a row, and there was some euphoria due to the ''up only mode'' and the large inflows from the ETF. After that, Bitcoin started trading below the 2021 ATH, and with fears of supply entering the market from sources like Mt. Gox, the German and U.S. Governments, as well as geopolitical conflicts, it led to the market correction we’ve been seeing these past months.
This downtrend is showing the same characteristics on most coins, with a clear descending trendline which links the lower highs. Basically we are seeing a correction after a bullish trend, similar to the one we saw back in April-July 2021 before bullish continuation. Some tokens like $RARE have already broken this downtrend, with some interesting pumps. Now... should we expect the same for the rest of the market?
Confirmations are still needed, but based on a thorough analysis using various methods and data sources, and as I've been saying for a few weeks, I believe there is a good chance of seeing a market recovery with a bullish rally for altcoins.
