Analyst Hints at Altcoin Rally as Re-Accumulation Patterns Similar Historic Bull Cycles

• Altcoin market repeats double bottoms, higher lows, and re-accumulation phases from past cycles, hinting at potential growth.
• 2024’s re-accumulation phase, marked by low volatility, may indicate a strengthening altcoin market in line with historical trends.
• RSI momentum above 50 reflects growing market interest, aligning with past signals of bullish momentum in altcoin cycles.

The altcoin market’s long-term structure hints at a potential rally, according to analyst el_crypto_prof, who sees signs of a repeating pattern of growth phases in the current setup. He focuses on key price and momentum indicators within the altcoin market capitalization, excluding Bitcoin, from 2015 to 2024 and beyond. A series of historical patterns involving double bottoms, higher lows, and re-accumulation phases suggests altcoins may be up for an upward move, mirroring past cycles.

Historical Patterns Point to Possible Rally

The altcoin market has shown consistent patterns in past cycles, notably in 2015, 2018-2019, and 2022-2023. Each period demonstrated a double bottom formation, higher lows, and eventual re-accumulation phases, leading to substantial rallies. 

In 2015, a double bottom led to a gradual accumulation, followed by a notable uptrend through 2017. Similarly, the 2018-2019 period saw a similar bottom pattern and accumulation before a major bull run in 2020-2021. 

The current structure appears aligned with this pattern, featuring a double bottom in 2022-2023, higher lows, and a new accumulation phase in 2024, potentially marking the early stages of another rally.

Re-Accumulation Phases Mark Key Market Shifts

Marked with yellow, re-accumulation phases typically show reduced market volatility, as seen in 2016 and 2020. These phases have preceded major altcoin bull runs, suggesting increased buying interest as the market consolidates before breaking into a new trend. 

The ongoing 2024 accumulation phase indicates possible groundwork for an upward trend, with market participants gradually building positions ahead of potential bullish action.

RSI Insights Suggest Building Momentum

The Relative Strength Index (RSI), a measure of market momentum, further strengthens the bullish outlook. Historically, the RSI climbed above 50 during past re-accumulation phases in 2016 and 2020, coinciding with strong upward moves in altcoin prices. 

The current RSI is slightly above 50, indicating building momentum within the ongoing re-accumulation. In 2015 and 2018-2019, RSI behavior mirrored current trends, with an increase signaling shifts toward bullish market conditions. As the RSI hovers above 50, it aligns with a strengthening altcoin market, possibly ready to push higher.