The following signals indicate that the altcoin season is about to begin
Altcoins are showing signs of strength as the crypto market begins to recover after a significant correction in February.
This recovery has pushed the total market capitalization up after hitting the $3 trillion mark on February 2.
The recent correction caused the market capitalization of altcoins to drop sharply after being rejected at the $425 billion level.
However, according to analyst Rekt Capital, although the market has been rejected at a strong resistance level, this decline is much smaller than previous corrections.
Observations suggest that the bulls may be gradually gaining control of the altcoin market.
Market capitalization has been rejected, but altcoins are consolidating strength.
Rekt Capital's technical analysis emphasizes the importance of the $425 billion resistance level for the altcoin market, especially for altcoins outside the top 10.
Although altcoins have been fiercely rejected at this critical resistance level, the depth of the recent correction is still significantly shallower compared to previous ones.
An important takeaway from the current trend is that the resistance at $425 billion is clearly weakening, indicating that the bearish momentum causing the correction in the altcoin market is not as strong as in previous cycles.
Unlike previous cycles, where mass sell-offs led to catastrophic price drops, the current price action reflects an increasing resilience and endurance of the market.
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