According to TheMarketPeriodical, crypto analyst Merlijn The Trader has identified a 'multi-year cup and handle' pattern across altcoin charts, suggesting a potential breakout phase. Bitcoin dominance is seen consolidating below a key trendline, a pattern that historically preceded major altcoin rallies, such as in 2021. Analysts note that the RSI has broken its long-term downtrend and that the price structure is 'coiling,' indicating early signs of momentum in favor of altcoins. On-chain data and macroeconomic factors, including the upcoming FOMC meeting, are being closely monitored for further catalysts.
Bitcoin Dominance Peaks as Analysts Signal Potential Altcoin Season
TheMarketPeriodicalShare
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