bullish

Shift

Momentum

Trillion

<p>The altcoin market is now in the early stage of a crucial breakout. The technical indicators show a significant rally that may be the beginning of the altcoin season. Market analyst MikybullCrypto has noticed a cup-and-handle pattern in the&nbsp;<a href="https://www.thecoinrepublic.com/2024/10/16/crypto-market-gains-130b-as-bitcoin-and-altcoins-rally/">altcoin’s total market capitalization</a>&nbsp;chart. It is a formation that is usually viewed as a bullish signal.</p> 
<p>This breakout indicates an increased altcoin market cap to $2 trillion by late 2025, though current indications show the market cap to be on the rise.</p> 
<h2 class="wp-block-heading" id="h-cup-and-handle-pattern-signals-a-bullish-breakout"><strong>Cup and Handle Pattern Signals a Bullish Breakout</strong></h2> 
<p>Cup and handle formation means a two-year recovery from the bearish zone that began in early 2022. The cup shape at the bottom represents continual market building up and recovery, whereas the handle formed during consolidation indicates a coming breakout.</p> 
<p>It has already moved beyond the $820 billion market cap, signifying the beginning of the next leg up.</p> 
<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Altcoins?src=hash&amp;ref_src=twsrc%5Etfw">#Altcoins</a> cap cup&amp;handle breakout is occurring<br><br>This means one thing<a href="https://twitter.com/hashtag/ALTSEASON?src=hash&amp;ref_src=twsrc%5Etfw">#ALTSEASON</a> is about to begin from the end of this month till March 2025. <a href="https://t.co/bbkcVoWFOp">https://t.co/bbkcVoWFOp</a> <a href="https://t.co/NLy9WXLfwH">pic.twitter.com/NLy9WXLfwH</a></p>— Mikybull 
   <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f402.png" alt="🐂" class="wp-smiley" style="height: 1em; max-height: 1em;">Crypto (@MikybullCrypto) <a href="https://twitter.com/MikybullCrypto/status/1858515504136081821?ref_src=twsrc%5Etfw">November 18, 2024</a>
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<p>In case the breakout remains intact, the altcoin market might surge by a predicted 181.6%, setting the stage for one of the most significant rallies in recent years. Furthermore, the bullish outlook correlates with increased investor participation and hence great potential for growth of most altcoins.</p> 
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  <img loading="lazy" decoding="async" width="1024" height="581" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/11/tempImagewvzGNb-1024x581.jpg" alt="Altcoin market | Source X" class="wp-image-840615" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/11/tempImagewvzGNb-1024x581.jpg 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/tempImagewvzGNb-300x170.jpg 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/tempImagewvzGNb-768x436.jpg 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/tempImagewvzGNb-1536x872.jpg 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/tempImagewvzGNb-150x85.jpg 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/tempImagewvzGNb-696x395.jpg 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/tempImagewvzGNb-1068x606.jpg 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/tempImagewvzGNb.jpg 1600w" sizes="auto, (max-width: 1024px) 100vw, 1024px">
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   Altcoin market | Source X
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<h2 class="wp-block-heading" id="h-altcoin-dominance-highlights-momentum-shift"><strong>Altcoin Dominance Highlights Momentum Shift</strong></h2> 
<p>The altcoin market is starting to look stronger and there is a gradual change of dominance. This shows the rising trend of other altcoins beyond Bitcoin and Ethereum in the Crypto Total Market Cap Excluding the Top 10 Dominance metrics.</p> 
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  <img loading="lazy" decoding="async" width="1024" height="599" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/11/tempImageUyVLf0-1024x599.jpg" alt="1-day Altcoin market | Source TradingView" class="wp-image-840620" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/11/tempImageUyVLf0-1024x599.jpg 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/tempImageUyVLf0-300x176.jpg 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/tempImageUyVLf0-768x450.jpg 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/tempImageUyVLf0-150x88.jpg 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/tempImageUyVLf0-696x407.jpg 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/tempImageUyVLf0-1068x625.jpg 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/tempImageUyVLf0.jpg 1341w" sizes="auto, (max-width: 1024px) 100vw, 1024px">
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   1-day Altcoin market | Source: TradingView
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<p>Dominance has surged to 9.67% positioning itself well above a downward trend line that has served as the resistance line since early September.</p> 
<p>This breakout shows a constantly emerging interest of investors in other such small altcoins that is now considered a sign of a new altcoin season. Altcoin dominance is trading near 9.80% and is finding the upper level of resistance at 10.50%.</p> 
<p>If these levels are crossed, the small-cap cryptocurrencies may hold the potential to drive market growth. On the downside, dominance has found support at 9.30% with 9.00% being the second support level.</p> 
<p>The Relative Strength Index (RSI) is currently at 57.45, which shows the bullish pressure is increasing without being overbought. This indicates that there is still potential for asset growth before the correction occurs which again gives support to the bullish view on small-cap assets.</p> 
<h2 class="wp-block-heading" id="h-altcoin-season-expected-to-begin-by-november-s-end"><strong>Altcoin Season Expected to Begin by November’s End</strong></h2> 
<p>This further aligns with the market sentiment and historical price movement. It suggests the beginning of an altcoin season from November next year to March the following year.</p> 
<p>Within this period, we expect altcoins to perform better than the bigger coins, such as BTC and ETH, due to the shift in capital from larger-cap coins.</p> 
<p>In the past, altcoin seasons have occurred when there is a rampant bull run. Altcoins perform relatively better than the top cryptos once BTC price stablizes. However, the projected altcoin market cap of $2 trillion is rooted in the depth of the cup and handle pattern. It is a technical setup with a strong track record of accuracy.</p> 
<h2 class="wp-block-heading" id="h-key-levels-to-watch"><strong>Key Levels to Watch</strong></h2> 
<p>In the bullish area, dominance reaches 10.50%. The market capitalization brings $2 trillion, indicating further breakout on the part of small-cap altcoins.</p> 
<p>However, a bearish scenario may unfold if the breakout fails to hold, leading to a potential retracement. Any level of support above $600 billion is seen as relatively safe since it gives the market firm support in case of price pullback.</p> 
<p>The post <a href="https://www.thecoinrepublic.com/2024/11/20/altcoin-market-breaks-out-2-trillion-target-signals-altseason/">Altcoin Market Breaks Out: $2 Trillion Target Signals Altseason&nbsp;&nbsp;</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.</p>

Altcoin Market Breaks Out: $2 Trillion Target Signals Altseason

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