Is This the Best Time to Buy Altcoins?
Altcoins are in range from last 20-30 days. As a trader we need a point from where we can buy and make a good profit. For that we usually need to analyse others chart (exc Top 10) to mark alt coins bottom.
The crypto market cap excluding the top 10 is sitting around $161B, directly on a major historical support zone around $160-$165B. This level has already tested multiple times on the weekly chart. We saw resistance here, then support, and each major reaction from this cause major moves
Now the market is testing it again.
That is what makes the current setup interesting
The chart also shows a much stronger support area near $124B . So, where actually I should buy..? Rather than blindly buying everything, I would treat the current region as an accumulation zone while keeping some capital available for a deeper sweep.
Likely 70% here and remaining 30% for $124B zone.
The potential upside is where things become interesting
If this support holds and the market repeats its previous expansion pattern, the chart points toward the $320-$340B area. From approximately $161B, that would mean roughly a 100%+ increase in altcoin market capitalization.
Many stronger alts will do even 5X from here
The biggest mistake here would be waiting for everyone to become bullish before entering
Sometimes the best altcoin opportunities appear when the chart still looks boring.
So instead of waiting buy here and wait for upside move
#altcoins #ALT
Altcoins are in range from last 20-30 days. As a trader we need a point from where we can buy and make a good profit. For that we usually need to analyse others chart (exc Top 10) to mark alt coins bottom.
The crypto market cap excluding the top 10 is sitting around $161B, directly on a major historical support zone around $160-$165B. This level has already tested multiple times on the weekly chart. We saw resistance here, then support, and each major reaction from this cause major moves
Now the market is testing it again.
That is what makes the current setup interesting
The chart also shows a much stronger support area near $124B . So, where actually I should buy..? Rather than blindly buying everything, I would treat the current region as an accumulation zone while keeping some capital available for a deeper sweep.
Likely 70% here and remaining 30% for $124B zone.
The potential upside is where things become interesting
If this support holds and the market repeats its previous expansion pattern, the chart points toward the $320-$340B area. From approximately $161B, that would mean roughly a 100%+ increase in altcoin market capitalization.
Many stronger alts will do even 5X from here
The biggest mistake here would be waiting for everyone to become bullish before entering
Sometimes the best altcoin opportunities appear when the chart still looks boring.
So instead of waiting buy here and wait for upside move
#altcoins #ALT