Altcoins Hold Strong at Key Trendline Support
The altcoin market (excluding Bitcoin and Ethereum) is showing early strength at a major trendline support from 2023. The market has bounced four times off this rising channel, including a fresh retest in early 2025. Each bounce has sparked new bullish moves, keeping the long-term uptrend alive.
Key Point:
The rising channel structure is still intact, signaling that the overall market trend remains bullish.
RSI Flips Bullish with No Signs of Weakness
Market analyst Moustache highlights that the RSI (Relative Strength Index) has flipped bullish after bouncing from below 40. This is important because:
No bearish divergence is present.
Momentum is building up, forming higher lows on the RSI for the first time since late 2024.
Accumulation phase: Recent price action shows sideways movement rather than sharp rejections.
Historically, these RSI reversals led to strong upward moves toward the top of the channel.
Daily Chart: Wedge Pattern Signals Breakout Coming
On the daily chart, altcoins are moving inside a descending broadening wedge since late 2023. Key observations:
Price recently tested resistance near a strong green support zone.
The MACD indicator shows momentum shifting:
Histogram bars are shrinking.
MACD and signal lines are converging below zero.
This signals that bearish momentum is fading, and a breakout decision is close.
Final Thoughts: Altcoins Ready for a Big Move
Both weekly and daily timeframes are aligning:
Strong support is holding.
Momentum indicators (RSI and MACD) are flipping bullish.