Michael Van de Poppe predicts a September breakout for the altcoin market.
A “higher low” formation and support zone around $500 billion suggest increased buying demand.
Overcoming the key resistance zone around $850B could confirm a new bullish phase for altcoins.
Crypto analyst Michael Van de Poppe predicts the altcoin market is positioning itself for a significant breakout. In his post on X, Van de Poppe highlighted a growing bullish setup for the altcoin market, pointing to a “higher low” formation that suggests a potential trend reversal.
While he acknowledged that the market remains in a downtrend on lower time frames, Van de Poppe believes the market structure hints at an upward breakout when viewed from a higher time frame. He anticipates this turnaround could emerge by September.
The #Altcoin market capitalization looks relatively good.
It's still trending down on lower timeframes, but on higher timeframes, it has established a new higher low after this retest.
I'm expecting that breakout upwards in September. pic.twitter.com/YcSjNdIcZm
— Michaël van de Poppe (@CryptoMichNL) August 31, 2024
Notably, the formation of a “higher low” is crucial in…
The post Altcoin Market Primed for September Breakout, Says Analyst appeared first on Coin Edition.