• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

RSI Breakout Indicates Impending Altcoin Rally

user avatar

by Giorgi Kostiuk

a year ago

  1. RSI and Historical Trends
  2. Market Phases and Indicators
  3. Potential Implications for the Altcoin Market


    4. The altcoin market shows signs of an impending surge reminiscent of the 2016-2017 bull run, as the Relative Strength Index (RSI) nears a critical breakout level. Analysts foresee a massive rally if this breakout occurs.

    RSI and Historical Trends

    The 3-week RSI mirrors pre-2017 breakout trends, suggesting an imminent rally in altcoins. Altcoin market consolidation in 2024 resembles the 2016 setup before the massive surge.

    Market Phases and Indicators

    The prediction comes after a detailed technical analysis of the total crypto market cap, excluding Bitcoin. The analysis highlights key market phases, particularly using Elliott Wave Theory and the Relative Strength Index (RSI). Elliott Wave Theory helps predict trends, while the RSI tracks price movements.

    Potential Implications for the Altcoin Market

    The analyst suggests we are currently in a consolidation phase similar to Wave 1 in 2016. In both 2016 and now, the market experienced an initial surge followed by a prolonged period of sideways trading. This historical similarity raises the possibility of a repeat performance, akin to the 2017 bull run.

    Analysts expect a major price explosion once the RSI breaks through its downtrend, potentially leading to a new altcoin bull market similar to 2017.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

X Bull Finance Highlights the Unique Advantages of HBAR Token

chest

X Bull Finance highlights the unique advantages of the HBAR token, emphasizing its innovative technology and the importance of understanding it in the evolving crypto landscape.

user avatarKenji Takahashi

Apecoin Connects Meme Appeal with NFT Landscape

chest

Apecoin has expanded its ecosystem through collaborations in the NFT space, enhancing its visibility and functionality.

user avatarMaria Fernandez

Bonk Blends Meme Culture with Practical Utility

chest

Bonk has gained attention for integrating practical transaction features into its meme coin structure.

user avatarGustavo Mendoza

Peanut the Squirrel Enters the Meme Coin Ecosystem

chest

Peanut the Squirrel has launched as a playful meme coin, leveraging mascot-based branding to engage users.

user avatarLuis Flores

AI Crypto Coins Gain Early Momentum in the Market

chest

AI-linked tokens are gaining traction in the market due to their connection to automation and data processing.

user avatarMiguel Rodriguez

Short Positions Lead BTC Perpetual Futures on Major Exchanges

chest

Short positions are dominating BTC perpetual futures across major exchanges, indicating a bearish sentiment among traders.

user avatarRajesh Kumar

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.