The altcoin market is nearing a breakout as strong Bitcoin performance and rising RSI boost confidence across crypto investors.
A breakout above the $800B resistance could trigger massive altcoin gains as market momentum builds and volume remains steady.
Altcoin rallies historically follow Bitcoin surges, and current technicals suggest a major alt season may soon unfold.
According to analyst Ted, the altcoin market is showing major signs of strength as Bitcoin hits a new all-time high and holds steady. As of now, the total crypto market cap excluding Bitcoin and Ethereum sits at around $934 billion. This level brings the market closer to a critical resistance zone between $755 billion and $800 billion. Many traders see this as a key support-turned-resistance level. A breakout from here could spark massive gains across altcoins.
Besides, market momentum appears to be building. The RSI currently reads 63.27, which shows bullish pressure without signaling overbought conditions. This technical setup, combined with consistent volume, suggests that buyers are gaining confidence. If the market holds above this key level, a surge across altcoins could soon follow.
Market History Points to Explosive Potential
The altcoin market has followed a rollercoaster path since March 2024. It started near $500 billion and saw a strong run in spring. Prices peaked at nearly $800 billion in May 2024. Then came a summer correction that dragged the market back into the $450 to $650 billion range. However, the real fireworks came in late 2024. The market skyrocketed from $650 billion to over $960 billion in a sharp rally.
Source: Ted
This peak marked the highest value across the entire 20-month span. However, profit-taking kicked in quickly. The market dropped to $934 billion, where it currently holds steady. Despite that dip, the overall trend remains bullish, with higher lows forming over time.
Altcoin Season Could Be on the Horizon
Now, traders are watching the “S/R Flip = Continuation” zone closely. This region often signals whether a rally has more fuel or not. A decisive breakout above this level could shift sentiment entirely. Hence, many believe 20%-30% daily gains across altcoins could become common if that happens.
Moreover, Bitcoin’s strong performance gives altcoins room to shine. Historically, altcoin rallies often follow periods of Bitcoin strength and stability. The current setup hints that we might be entering one of those phases again.
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