- Altcoins mirror past cycles, forming a “double bottom” with higher lows—historically a sign of an impending rally.
- Technical indicators align with previous breakouts, suggesting April could be a key turning point for the altcoin market.
- If TOTAL2 breaks out, a major altcoin rally could follow; otherwise, extended consolidation may continue.
According to analyst Moustache, the altcoin market is at a crossroads, with previous trends pointing towards a potential breakout. The TOTAL2 presents parallels with previous market cycles. It points towards a possible resurgence should history rhyme once again. April could determine the next major move, and thus it marks a turning point for altcoins.
Recurring Market Cycles Indicate Potential Breakout
The TOTAL2 chart highlights three major accumulation phases: 2015-2016, 2018-2019, and 2022-2023. Each of these periods displays a “double bottom” formation followed by higher lows. This structure has historically signaled a strong uptrend, leading to rallies.
Besides, past cycles confirm that once the market establishes higher lows, upward momentum builds. The 2015-2016 phase saw a prolonged consolidation before an explosive rally. Similarly, the 2018-2019 cycle followed the same pattern, giving rise to a massive bullish trend. Therefore, the 2022-2023 phase appears to be following the same direction.
Key Technical Indicators Align with Historical Patterns
Moreover, technical indicators reinforce the likelihood of an impending breakout. Yellow-highlighted areas on the chart mark crucial consolidation phases before price surges. Additionally, blue arrows indicate breakout points where the market shifted from accumulation to an uptrend.
Consequently, today’s market positioning is a result of historical trends. The development of a double bottom, followed by higher lows that continue, signifies solid support. In case the trend continues, altcoins can experience serious gains, just like in earlier cycles.
April Could Be a Decisive Month for Altcoins
But market conditions have to be favorable for a breakout. Also, April has been a month of higher volatility and trend reversals in crypto markets historically. If TOTAL2 breaks out of its consolidation range, then a powerful uptrend may ensue. The next few weeks could decide if altcoins enter a bull phase or are subjected to more consolidation.
