- A crypto analyst firmly believes that a big move could be in store for altcoins.
- The altcoin market could be breaking through a 2-year falling wedge soon.
- Things are going particularly well for DOGE today as the meme coin is up by more than 26%.
A crypto trader and analyst shared a post on Twitter yesterday sharing his thoughts about altcoins, and what could happen to the altcoin market in the coming days. According to the post, the analyst firmly believes that a big move could be in store for altcoins.
Crypto total market cap excluding BTC 3D (Source: Twitter)
The analyst bases this prediction mostly on the fact that the altcoin market could be breaking through a 2-year falling wedge soon. The analyst also pointed out the inverse Head and Shoulder pattern which has formed on the altcoin chart. Looking at the responses to the post, it seems like most of the crypto community agrees that it is now only a waiting game before things start looking up for altcoins.
Dogecoin / Tether US 1D (Source: TradingView)
Looking at CoinMarketCap, it is clear that the last 24 hours have been kind to most of the top 10 biggest altcoins by market cap. Things are going particularly well for Dogecoin (DOGE) today as the meme coin is up by more than 26% to now trade hands at $0.09921. This comes after notorious DOGE fan Elon Musk replaced the bird in Twitter’s logo with the Dogecoin symbol. The crypto is also still up by more than 36% over the last seven days.
Cardano (ADA) and Polygon (MATIC) also fared well since yesterday as both altcoins are up by more than 1%. The weekly performance for both of these cryptos are also looking good with ADA being in the green by more than 11% and MATIC by 4.95% over the last week.
SOL price (Source: CoinMarketCap)
Solana (SOL) is also one of the top performers over the last 24 hours. At the moment, the altcoin is trading at $20.60 after a more than 2% price increase over the last day.
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