Altcoin Market Set to Soar After Major Breakout Signals Bullish Momentum Shift, Predicts Analyst

• Altcoin market cap exits eight-month wedge pattern, aiming for support confirmation at the $1.10T level.
• Retests at critical zones $950B–$1.10T highlight investor interest, with $900B as key defense if pullbacks occur.
• Bullish breakout suggests renewed momentum as altcoin market eyes potential price rise to resistance levels near $1.20T.

Altcoin markets have experienced a breakout from a descending broadening wedge, according to crypto analyst el_crypto_prof. After months of downward pressure, the market has broken past resistance levels, with current prices retesting critical zones. 

This breakout suggests a shift in investor sentiment, as traders anticipate potential growth if key levels hold. The altcoin market cap now tests support in the $1.10 trillion range, with critical zones mapped out for future price action.

Wedge Breakout Confirms Bullish Momentum

The altcoin market’s price action has recently exited a descending broadening wedge, a bullish continuation pattern. This pattern reflects an eight-month period of lower highs and lower lows, creating diverging trendlines that reveal buyer resistance on the top line and support on the bottom line. 

Breaking out from this structure marks a shift in momentum. The market is now retesting the upper trendline, previously acting as resistance, which could confirm an upward trend if support holds steady. This breakout suggests increased buyer interest and a potential upswing for altcoins.

Key Zones Define Altcoin Market Levels

At the $1.10 trillion to $1.15 trillion range, a previously restrictive orange zone now acts as support. Prices are actively testing this level, and a successful retest could strengthen the bullish case. A further support zone appears between $950 billion and $1.00 trillion, established through previous consolidation before the breakout. 

If the market faces additional pullbacks, this green zone could serve as a foundational level. Additionally, the lower red zone near $900 billion, a former resistance area, may act as a last defense if the market sees significant declines.

Past Deviations and Current Retests Signal Strength

Two recent deviations identified below the wedge’s lower trendline hint at strong demand, with quick price reversals maintaining the broader pattern. The purple trendline served as support, sparking the recent rally. 

A post-breakout retest is now underway, as prices consolidate near the orange zone. If this zone sustains, altcoin market cap levels could rise further, aiming for resistance levels around $1.20 trillion and $1.25 trillion. Should support falter, a fall toward $950 billion or even the $900 billion range could unfold, influencing the market’s long-term outlook.