The altcoin market is on the rise again, showing signs of a strong bullish cycle. After a long period of uncertainty, activity is noticeable once more.
Retesting Multi-Year Breakout
The altcoin market has pulled back slightly after a recent breakout, forming a structure that resembles a textbook retest. This setup echoes the historical 'cup and handle' pattern, which in previous cycles has often led to explosive continuation rallies.
Fractal Patterns Confirm Bullish Trend
The total altcoin market cap reveals recurring cycles with clear accumulation, breakout, and expansion phases. From 2018 to 2020, the market traded sideways, forming a prolonged accumulation range. In 2021, a breakout occurred, leading to a sharp uptrend. After reaching a peak, the market corrected and entered another range from 2022 to 2024. Importantly, late 2023 saw a breakout above multi-year resistance. Currently, the structure appears to be retesting the breakout zone.
Breakout from Key Altcoin Dominance
In addition to total market cap, altcoin dominance is also showing strong bullish signals. A daily chart reveals an ascending wedge pattern, recently broken above with strong momentum. This breakout aligns with growing investor confidence and marks a significant trend shift.
The altcoin market shows promising signs of growth, potentially indicating the continuation of a bullish cycle. Repeating structures and rising altcoin dominance could lead to a new expansion phase.
