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Altcoin Market Rally Comes to an End

The Altcoin market experienced a 6 day rally last week, but is now experiencing some resistance near the upper range of this bull pennant. The Altcoin market cap has peaked around $627 billion, and is starting to trend down again with 2 days of downside so far. I would monitor the price action for BTC and ETH because they will continue to affect the Altcoin market. I think BTC is likely to trend down in September, and we are likely to see some downside for ETH and ALTS as well.

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