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Multiple Successful Retests for the Altcoin Market

Written By: ChartChamp

November 7, 2024

The Altcoin market has formed a bullish breakout above the yellow resistance line, and has started trading within a light blue channel. There have been numerous successful retests at the yellow line, flipping resistance into support. Altcoins are starting to rally over the past few days, and have broken out above the light blue channel. I think Altcoins can go on a run over the next few months. Most of the gains would occur in 2025, I don’t think we will see too much upside in 2024.

Large cap cryptos have a tendency to rally before mid caps. Money flows from largest caps down to mid caps and low caps. CoinMarketCap is a great resource for tracking crypto market cap.

https://coinmarketcap.com

Follow me on social media: https://linktr.ee/realchartchamp

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