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Cryptocurrency News Articles
Historical RSI Patterns Hint at a Potential Altcoin Season, Signaling Significant Upward Movement
Sep 24, 2024 at 07:56 pm
Analysts predict altcoins are primed for a breakout as Bitcoin dominance weakens.
Crypto analysts are hinting at the possibility of an upcoming "altcoin season" based on technical indicators and market trends. Here's a summary of their analysis:
- Relative Strength Index (RSI) patterns indicate that altcoins may be preparing for a breakout. In the previous altcoin cycle, a reclaimed RSI signaled strong upward momentum.
- During the 2014 to 2018 period, when the total altcoin market cap experienced a significant surge, the RSI also showed promising trends.
- The explosive growth of altcoins in that period was not a coincidence but marked a shift in market dynamics, bringing a massive flow of capital into altcoins.
- Currently, with the total market cap at around $927.36 billion, a similar RSI pattern is reemerging, suggesting that altcoins may be preparing for another breakout.
- Analysts predict that a breakout above the current trends could trigger a flood of liquidity into the altcoin market, which could accelerate price movements and create a bullish trend for many altcoins.
- As Bitcoin's price hovers around $63,000, its dominance over the crypto market is decreasing.
- Recent price movements and trends are sparking discussions about an upcoming altcoin season, especially since 33 altcoins have outperformed Bitcoin.
- However, for the altcoin season to begin in full force, at least 50 altcoins must outperform BTC.
- Ethereum, the second-largest cryptocurrency, is also recovering after hitting 40-month lows against Bitcoin.
- Over the past week, ETH has risen around 15%, outperforming Bitcoin's 8% gain.
- Other altcoins are also showing strong performance, with NEAR, FET, SUI, APT, and TAO seeing impressive gains of 25% to 82% in just one week.
- Based on past cycles and technical indicators, the altcoin market could be poised for significant gains in the coming months.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
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- Bitgert (BRISE) vs Ethereum (ETH) and Solana (SOL) - Which Is a Better Investment?
- Sep 24, 2024 at 10:30 pm
- Ethereum and Solana are both significant players in the altcoin market, the former practically the king of altcoins and the latter a worthy challenger
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- How to Buy Floki Inu (FLOKI) or GoodEgg (GEGG) Coin
- Sep 24, 2024 at 10:30 pm
- As more investors flock to the cryptocurrency market, the rise of innovative tokens like Floki Inu (FLOKI) and GoodEgg (GEGG) continues to capture attention.
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- Bybit Launches Islamic Crypto Account for Muslim Investors, Consults ZICO Shariah for Sharia Compliance
- Sep 24, 2024 at 10:30 pm
- Leader in crypto and derivatives exchanges, Bybit has launched a rare service in its crypto-Islamic account aimed at Muslim investors.
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- As Pepe Coin (PEPE) Market Value Drops, Rexas Finance (RXS) Emerges as a Promising Alternative
- Sep 24, 2024 at 10:30 pm
- As the cryptocurrency market braces for potential shifts, Pepe Coin (PEPE) finds itself at a critical juncture. Currently trading at $0.00000740, PEPE's market cap stands at $3 billion, with a 24-hour trading volume of $384 million. Despite this substantial figure, PEPE has been on a downward trajectory over the past month, marked by declining highs and lows. With retail investor interest cooling, the question arises: Can PEPE regain its early 2024 levels? While the path ahead is uncertain, there is an alternative worth considering—Rexas Finance (RXS), a token priced below $0.10 that promises significant growth potential.
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- Sanctum Brings the Cloud Card—SOL Card, the First Debit Card Built on Solana, in Partnership with Jupiter Exchange and BasedApp
- Sep 24, 2024 at 10:30 pm
- Unlike the standard debit card, this card improves how customers spend SOL and stablecoins. The SOL card offers a smooth, enjoyable, and interactive payment experience.
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- aarn Unveils fi 802 AI Quant DeFi Vault, Poised to Disrupt the DeFi Market
- Sep 24, 2024 at 10:20 pm
- The AAVE price has surged by over 20% in the past month as one of the market's leading DeFi solutions recovers from a slump.
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- Celsius (CEL) Token Surges 300% After Completion of $2.5B Repayment Scheme to Creditors
- Sep 24, 2024 at 10:20 pm
- The Celsius Network's native token, CEL, has seen a dramatic surge of over 300% in the past month following the completion of a $2.5 billion repayment scheme to its creditors.
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- Dogwifhat (WIF) defies the bears and soars to the top of CoinMarketCap's gainers list
- Sep 24, 2024 at 10:20 pm
- As of this writing, this dog-themed token has increased by 13.12% over the last 24 hours, reaching a price of $1.92.
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- Bitcoin Miner From Network's Earliest Months Is Sending BTC to Kraken
- Sep 24, 2024 at 10:20 pm
- The wallet first started moving bitcoin to Kraken three weeks ago and has moved 10 BTC so far in three separate transactions.