In accordance with Cryptofrontnews, Bitcoinensus and Sykodelic have analyzed the TOTAL3 altcoin market cap, excluding BTC and ETH, and identified a long-term cup-and-handle pattern on the monthly chart. The pattern suggests a potential breakout above the $1.2 trillion resistance level, with a projected target of $2.01 trillion. A weekly chart also shows a reverse head-and-shoulders pattern, indicating altcoins may outperform Bitcoin in the coming phase. The analysts noted that the timing of the current decline aligns with historical cycles, reinforcing the possibility of a turning point for altcoin performance.
Analysts Predict Altcoin Market Cap Could Reach $2.01 Trillion After Cup-and-Handle Pattern
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