According to expert Javon Marks, the cryptocurrency market may enter a significant altcoin season. Rising prices and the Relative Strength Index (RSI) suggest a potential breakout.
Historical Altcoin Cycles and Breakout Patterns
Each altcoin season in the past followed a similar trajectory. The 2016–2017 cycle started with a downtrend before breaking out, leading to sudden dominance growth. In the 2020–2022 cycle, this pattern recurred. Now, in the 2023 cycle, a similar structure is unfolding. A downward trend preceded a breakout, suggesting an upcoming dominance surge.
RSI Confirmation and Market Strength
Technical indicators add more credibility to this bullish outlook. The RSI, a key momentum indicator, has consistently formed higher lows before major altcoin breakouts. This trend appeared in each past bull cycle. Currently, the RSI continues to rise, reinforcing the likelihood of an altcoin dominance surge.
Conclusion and Outlook
Altcoin market dominance moves through structured cycles, with breakouts acting as pivotal turning points. Historical trends strongly suggest that a new altcoin bull season could be imminent. The emergence of a breakout box, coupled with RSI strength, aligns with past patterns.
The altcoin market is on the verge of a new bull cycle, with key indicators being the RSI and historical breakout patterns.
