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Cryptocurrency Market Analysis: Altcoins on the Brink of Growth

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by Giorgi Kostiuk

21 hours ago

The cryptocurrency market is undergoing a slight pullback; however, signs of potential growth for the altcoin sector are emerging.

Current State of the Cryptocurrency Market

Recent tests of Ethereum (ETH) resistance level at $3,940 led to a drop to $3,775, impacting many altcoins. Despite this short-term weakness, analysis shows promising trends.

Analysis of the OTHERS Chart

Crypto analyst Sykodelic pointed out a crucial technical fractal forming on the OTHERS chart, representing the total market cap of cryptocurrencies excluding the top 10. This pattern hints at a potential significant altcoin rally.

The OTHERS chart has once again triggered a golden cross, which may indicate upcoming altcoin growth.CITE_W_A

Future Predictions

If the fractal continues to mirror its historical counterpart, altcoins might be on the verge of significant growth. Key level to watch is $280B. Holding this level could initiate a multi-week rally across mid- and small-cap cryptocurrencies.

The current market situation indicates that altcoins may begin to rise again if key support levels are maintained. Traders should closely monitor volume dynamics and momentum signals.

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