bullish

Flash

Coin

<ul class="wp-block-list news-points">
 <li>Altcoins approach a major breakout as a 9-month falling wedge signals potential bullish reversal.</li>
 <li>RSI and MACD indicators show altcoins are oversold, hinting at a potential market reversal.</li>
 <li>A breakout above the wedge’s resistance could trigger a strong rally in altcoins.</li>
</ul>
The altcoin market is hinting at a potential breakout, as indicated by a falling wedge pattern forming on the dominance chart. This technical formation often precedes a bullish reversal, suggesting a potential surge in altcoin prices.
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 <a href="https://twitter.com/hashtag/Altcoins?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Altcoins</a> Altcoins are on the verge of breaking out of a 9-month falling wedge. Time for the bulls to come back with full force. <a href="https://t.co/Bk92rUDKh5" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/Bk92rUDKh5</a>— 𝕄𝕠𝕦𝕤𝕥𝕒𝕔ⓗ𝕖 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f9f2.png" alt="🧲" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@el_crypto_prof) <a href="https://twitter.com/el_crypto_prof/status/1826543932278284419?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 22, 2024</a>
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This bullish outlook is further supported by the oversold RSI and a bearish crossover on the MACD, suggesting a weakening downtrend. If the market breaks out of the falling wedge, altcoins could see a significant rally, similar to past instances in 2020 and 2023. However, a failure to break out could lead to continued consolidation and a delayed bullish move.
Moustache recently <a href="https://x.com/el_crypto_prof/status/1826543932278284419" target="_blank" rel="noopener noreferrer nofollow">posted on X about this</a> potential bullish move, noting …
The post <a href="https://coinedition.com/altcoins-flash-bullish-signal-falling-wedge-breakout-looms/" rel="noopener noreferrer nofollow">Altcoins Flash Bullish Signal: Falling Wedge Breakout Looms</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Altcoins Flash Bullish Signal: Falling Wedge Breakout Looms

Coin Edition

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