it appears that the altcoin market capitalization is forming a cup and handle pattern, a bullish technical formation that signals a potential trend reversal.
Analysis:
The cup: Formed from 2021 to the end of 2022, with the cup's bottom established in June 2022.
The handle: Currently forming from the beginning of 2023 until now, with the handle's peak lower than the cup's peak.
Forecast:
If this cup and handle pattern completes, we can expect a strong upward movement for altcoins. The current resistance lies around the peak of the cup (approximately $1.3 trillion). A breakout above this resistance level with strong trading volume would confirm the pattern and signal the start of a new uptrend.
This is one big big reason why I believe we'll soon see significantly higher prices for Altcoins.
Highly recommend HOLD and Stacking $ETH // $SOL // $BNB // $LINK at Binance
Feel free to comment the altcoin you are holding and we will check it for you!
