🚀 Altcoin bull market isn’t over, says analyst – Here’s why

📉 Altcoin Market Sees Major Shifts: The altcoin market's capitalization, after peaking at $1.26 trillion in March, dropped sharply to $723 billion but has recently rebounded to $867 billion.

📊 Technical Indicators Show Hope: Crypto analyst Moustache notes that the altcoin market cap is consolidating above key technical levels, including the Gaussian Channel's mid-line and the Weekly 200 EMA. This suggests the recent decline might be a correction rather than the end of the bull market.

🔍 Case Study: Cardano (ADA): Cardano, trading at $0.335, has faced a 20.2% drop over the past week. Despite the downturn, its RSI at 31 indicates a neutral position, suggesting potential for recovery.

📈 Increased Trader Activity: Cardano's Open Interest has risen by 4.77% to $161.27 million, with total value locked in contracts surging by 86% to $236.86 million. This increased trader engagement could lead to future price volatility.