The mysterious altcoin signal that appeared since 2020 is showing signs of a strong price surge. Below are some key details about this signal:
• Giant ascending triangle pattern: The TOTAL3 chart (total market capitalization excluding Bitcoin, Ethereum, and stablecoins) shows that altcoins are breaking out of a giant ascending triangle pattern that has lasted since late 2020.
• Livermore Cylinder pattern: Analyst TechDev believes that the altcoin market is in a Livermore cylinder, a classic price formation developed by Jesse Livermore. In this pattern, the price oscillates within an expanding funnel-shaped channel, creating higher highs and higher lows before breaking through the resistance zone.
• Increasing stablecoin deployment: The deployment of stablecoins (i.e., when stablecoin capital is injected into the market) is also a potential indicator for the next wave. When stablecoin deployment increases, the cryptocurrency market also rises.
• Bullish forecast: Analyst TechDev notes that the macro expansion of altcoins has begun and will be the first true breakout, unprecedented in history.
Several factors to consider when evaluating this altcoin signal:
• BTC dominance weakening: The weakening of Bitcoin could be a sign of the late stage of the bullish cycle.
• 4-year accumulation: Altcoins are undergoing a 4-year accumulation phase, the longest in history, before a price explosion.
