INSUBCONTINENT EXCLUSIVE:
dominance below key moving averages suggests altcoins may outperform in the near term.According to crypto traders, many altcoins are
rally to $2.78 trillionIn the latest altcoin analysis, trader Jelle highlights a breakout from a highly bullish continuation cup-and-handle
Source: JelleVeteran trader Peter Brandt observed a similar setup on TOTAL2, or the combined market capitalization of all cryptocurrencies
excluding Bitcoin, on the weekly candle chart
The measured target of this pattern is $2.78 trillion, or a 97% rally in the total altcoin market cap.Responding to the breakout, Brandt
late November 2024, breaking out of a multimonth downtrend as observed by analyst Stockmoney Lizards.TOTAL3/BTC daily chart
indicators commonly used to indicate whether altseason has begun
It reflects overall investor sentiment and risk appetite in the market.This indicator had been on a downward trend since June 27, reaching
But it is still only 39% of the top 50 altcoins that have outperformed BTC during the last three-month period, far from the 75% needed for
an official altcoin season.Altcoin season index
Source: Blockchain CenterThis article does not contain investment advice or recommendations
Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
