Rally

bullish

2024

Coin

<ul class="wp-block-list news-points">
 <li><strong>Falling wedge and inverse head and shoulders signal potential altcoin market reversal.</strong></li>
 <li><strong>Long-term trendline support holds altcoins trade at 60-80% of previous highs.</strong></li>
 <li><strong>September breakout likely as altcoin market approaches critical support levels.</strong></li>
</ul>
<p>The altcoin market could be on the cusp of a bullish reversal, with technical indicators suggesting a potential breakout. Following a prolonged nine-month downtrend, a falling wedge pattern has formed, potentially signaling a shift in market sentiment.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Altcoins?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Altcoins</a><br><br>Not many changes these days, but that doesn't mean we're in an exciting moment. <br><br>-Breakout of a 9 month falling wedge complete <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2705.png" alt="✅" class="wp-smiley" style="height: 1em; max-height: 1em;"><br>-Retest should also be almost complete <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2705.png" alt="✅" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>What comes next should please the bulls. <a href="https://t.co/x2236bZ4A2" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/x2236bZ4A2</a></p>— 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/1831981591805231539?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">September 6, 2024</a>
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<p>This pattern, followed by an inverse head and shoulders formation, could signal the start of a new upward trend.&nbsp;</p>
<h2 class="wp-block-heading" id="h-technical-patterns-hint-at-reversal"><strong>Technical Patterns Hint at Reversal</strong></h2>
<p>The current technical analysis, which was noted by @el_crypto_prof, reveals a falling wedge pattern, often seen as a bullish reversal signal. This pattern is characterized by two converging trendlines t…</p>
<p>The post <a href="https://coinedition.com/inverse-head-and-shoulders-formation-hints-at-altcoin-market-rally/" rel="noopener noreferrer nofollow">Inverse Head and Shoulders Formation Hints at Altcoin Market Rally</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.</p>

Inverse Head and Shoulders Formation Hints at Altcoin Market Rally

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