After several months of stagnation and bear moods in the altcoin market, a significant rise may begin.
The famous cryptoanalyst Michael Van de Poppe published a schedule reflecting a huge bull divergence of market capitalization of altcoins in relation to bitcoin (Total3/BTC).
Van de Poppe defined the long -term model of the falling wedge as a structure, often signaling the bull -free price of price. The last time, when such a bull divergence was observed, it was followed by a paraboly surge in 2020, marked the beginning of one of the largest seasons of altcoins.
The analyst emphasized that in the current market there is the longest bull divergence in the history of altcoins. RSI (relative force) consistently formed the upper minimums, while the price reached the lower minimums. This is a classic installation hinting at the price of the price.
In fact, the breakthrough has already occurred, and the price restored the resistance of the wedge and re -tested it as support. A second test, according to Van de Poppe, may be confirmed by a new upward trend in the altcoin market.
The Total2 schedule (the total capitalization of the cryptocurrency market without accounting Bitcoin) shows that as of April 14, Total2 bounced $ 830 billion from the zone and now ranges from $ 960 billion, showing signs of revitalization after the lateral motion weeks.
This pricing movement restored the level of Fibonacci correction 0.382 and tries to break through above the key levels of 0.5 and 0.618, usually monitored for turning off the trend.
In addition, the MACD (the convergence and discrepancy between the sliding medium) crossed the bull trend, while the histogram columns became green, and the impulse shifted upwards. All this indicates a potential continuation.
If the Total2 market capitalization can break through and stay above the $ 1.02 trillion mark (0.618 in Fibonacci), analysts see the potential for rally to $ 1.27 trillion (expansion of Fibonacci 1.618). This scenario becomes more likely if the price of bitcoin is stabilized or consolidated.
With a bull scenario, Total2 can re -test historical maximums about $ 1.6-2 trillion over the next 6-12 months. On the other hand, a bearish case will include another rebound at 0.618 Fibonacci, sending prices back to the support of $ 830 billion.
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Source: Cryptocurrency
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