Altcoins About To Take Off? Analyst Says The ‘Final Shakeout’ Is Over

The crypto market experienced a significant rebound, recovering from a red Monday to show an 18.54% increase from weekly lows. Altcoins, particularly Ethereum and Solana, fueled this optimism by breaking out of bullish formations. Bitcoin reclaimed the $100,000 mark, and Ethereum surpassed $3,400. The total crypto market capitalization, excluding Bitcoin and Ethereum, hit its highest point since December's retracement. Analysts like Titan of Crypto believe the altcoin market's "final shakeout" is complete, predicting a significant rally. This prediction is based on the imminent golden cross and parallels with the 2021 altcoin season. Investor Miky Bull also sees a Q1 2024 playbook repeating, potentially extending the rally until March. Analyst Jelle points to a broken bullish pennant formation as a catalyst for further gains. The altcoin market cap broke out of a 42-day accumulation period, signaling a potential rally. Overall, the current market indicators suggest a bullish outlook for altcoins in the near future.