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Altcoin Market Retests Key Support Level Again

Written By: ChartChamp

November 4, 2024

BTC has experienced 6 days of downside, which is also caused the Altcoin market to experience downside as well. The Altcoin market is now retesting the yellow trendline for a second time around $590 B market cap. The Altcoin market was trading in a light blue channel, but has lost support during this week’s downtrend. I would continue to dollar cost average into Altcoins over the next few weeks. I think in 2025 the crypto market is likely to experience a strong rally. For now BTC is likely to outperform Altcoins in Nov and Dec.

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