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Altcoin Market Reaches Resistance

Written By: ChartChamp

September 19, 2024

The Altcoin market has rallied to the upper range of this channel around $591 billion market cap. Historically Altcoins remain neutral in Sept and close the month slightly red. Based on this historical trend, Altcoins are likely reaching their monthly high here and could trend back down near the end of Sept. I think a bullish breakout in Oct is the more likely scenario, and there should also be concerns with the price breaking to the downside as well. Historically Q4 is a very bullish time period for crypto after the Bitcoin halving.

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