After several months of stagnation and bearish sentiment in the altcoin market, a significant rally may begin. Notable crypto analyst Michaël van de Poppe published a chart reflecting a huge bullish divergence in the market capitalization of altcoins relative to Bitcoin (TOTAL2/BTC).

Van de Poppe identified a multi-year falling wedge model as a structure that often signals a bullish price reversal. The last time such a bullish divergence was observed, it was followed by a parabolic surge in 2020, marking the start of one of the largest altcoin seasons. The analyst emphasized that the current market is witnessing the longest bullish divergence in the entire history of altcoins. The RSI (relative strength index) has consistently formed higher lows while the price reached lower lows. This is a classic setup hinting at a price reversal. In fact, the break has already occurred, and the price has restored the resistance of the wedge and has retraced it as support. A repeated test, according to van de Poppe, could confirm a new uptrend in the altcoin market. The TOTAL2 chart (total market capitalization of cryptocurrencies excluding Bitcoin) shows that as of April 14, TOTAL2 bounced from the $830 billion zone and is now fluctuating around the $960 billion mark, showing signs of revival after a week of sideways movement. This price movement restored the Fibonacci correction level of 0.382 and is attempting to break above key levels of 0.5 and 0.618, which are commonly monitored for trend reversals.

Moreover, the MACD (moving average convergence and divergence) has crossed into a bullish trend, with the histogram bars turning green and the momentum shifting upward. All of this indicates potential continuation. If the total market capitalization TOTAL2 can break through and hold above the mark of $1.02 trillion (0.618 on Fibonacci), analysts see potential for a rally to $1.27 trillion (Fibonacci expansion 1.618). This scenario becomes more likely if the price of Bitcoin stabilizes or consolidates. In a bullish scenario, TOTAL2 could retest historical highs around $1.6–2 trillion over the next 6–12 months. On the other hand, a bearish case would involve another drop at the 0.618 Fibonacci level, sending prices back to the support of $830 billion.#CryptoAdoption #BinanceAlphaAlert