The altcoin market is in the early stage of a significant breakout, potentially signaling a new altseason. Technical indicators show a promising path for altcoin market cap growth.
Cup and Handle Pattern Signals a Bullish Breakout
Market analyst MikybullCrypto has identified a cup-and-handle formation on the altcoin market cap chart, typically seen as a bullish signal. The potential for altcoin market cap to reach $2 trillion by late 2025 appears feasible.
Impact of Altcoin Dominance
The altcoin market is gaining strength, with a gradual change in dominance. Dominance has surged to 9.67%, indicating rising investor interest in smaller altcoins. The RSI is at 57.45, showing increasing bullish pressure, without reaching overbought levels.
Altcoin Season Expected to Begin by November’s End
The altcoin season is expected to start at the end of November, extending to March next year. During this period, altcoins may outperform big cryptos like BTC and ETH due to capital shift.
The altcoin market shows a bullish tendency, supported by both large and small investments. Technical indicators suggest a potential for significant growth.
