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Altcoin Market Preparing to Rebound

Written By: ChartChamp

October 8, 2024

Yesterday the Altcoin market was rejected at the yellow resistance line around $612.78 billion. Today the Altcoin market is attempting to form a bullish rebound. As long as Bitcoin holds above $62.4k the Altcoin market could start to rebound here. With a successful rebound the Altcoin market is likely to attempt another bullish breakout above the yellow trendline to kickstart the bull run. The last bullish breakout was unsuccessful due to a selloff in the markets when Iran attacked Israel. We still have these geopolitical tensions to monitor so I would like to see a bullish breakout for Bitcoin and Altcoins to feel more comfortable with the bull run.

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