bullish

Flash

Coin

<ul class="wp-block-list news-points"> 
 <li>Altcoins approach a major breakout as a 9-month falling wedge signals potential bullish reversal.</li> 
 <li>RSI and MACD indicators show altcoins are oversold, hinting at a potential market reversal.</li> 
 <li>A breakout above the wedge’s resistance could trigger a strong rally in altcoins.</li> 
</ul> 
The altcoin market is hinting at a potential breakout, as indicated by a falling wedge pattern forming on the dominance chart. This technical formation often precedes a bullish reversal, suggesting a potential surge in altcoin prices. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <a href="https://twitter.com/hashtag/Altcoins?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#Altcoins</a> Altcoins are on the verge of breaking out of a 9-month falling wedge. Time for the bulls to come back with full force. <a href="https://t.co/Bk92rUDKh5" target="_blank" rel="nofollow">pic.twitter.com/Bk92rUDKh5</a>— 𝕄𝕠𝕦𝕤𝕥𝕒𝕔ⓗ𝕖 
 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f9f2.png" alt="🧲" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@el_crypto_prof) <a href="https://twitter.com/el_crypto_prof/status/1826543932278284419?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">August 22, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
This bullish outlook is further supported by the oversold RSI and a bearish crossover on the MACD, suggesting a weakening downtrend. If the market breaks out of the falling wedge, altcoins could see a significant rally, similar to past instances in 2020 and 2023. However, a failure to break out could lead to continued consolidation and a delayed bullish move. 
Moustache recently <a href="https://x.com/el_crypto_prof/status/1826543932278284419" target="_blank" rel="nofollow">posted on X about this</a> potential bullish move, noting …
The post <a href="https://coinedition.com/altcoins-flash-bullish-signal-falling-wedge-breakout-looms/">Altcoins Flash Bullish Signal: Falling Wedge Breakout Looms</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Altcoins Flash Bullish Signal: Falling Wedge Breakout Looms

Coin Edition

Other articles published on Aug 22, 2024

NFT Marketplace Magic Eden To Launch ME Token Expanding Crypto Offerings

Bitcoin Exchange Inflows Plummet in August Despite Sell-off Speculation

XRP Surge: Sees Zero Whale Activity, Confidence Grows

Bitunix Announces Major Security Upgrade: $5 Million Insurance Backed by UK-Based Security Partne...

What is Story Protocol?

Shiba Inu (SHIB) Above Two Trillion in 24 Hours: What's Going On?

Join our free newsletter for daily crypto updates!