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Altcoins Trend Hint at Upcoming Explosive Rally, Here’s Why

Altcoins are gearing up for an explosive rally as historical patterns and bullish indicators signal a promising market reversal in 2024.
Altcoins Trend Hint at Upcoming Explosive Rally, Here’s Why

Highlights

  • Altcoins set for a major rally as bearish sentiment signals accumulation phase.
  • Historic cycles hint at explosive gains; altcoins mirror 2017, 2021 trends.
  • Gaussian Channel green shift forecasts 2024 altcoin breakout.

As the altcoin market enters a prolonged re-accumulation phase, signs point to an impending major rally.

Although the market is in the bearish territory at the moment, past trends and analysis show that there is immense potential for altcoins to rise. As per Mikybull, a crypto analyst, the 2020 price pattern is forming, suggesting that a massive price surge is imminent.

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Altcoins Re-accumulation Phase

Sentiment in the market towards altcoins is currently bearish with many investors holding a negative view of the market. However, this kind of sentiment is typical for altcoins re-accumulation phases and occurs just before market reversals. In support of this view, DeFi analyst Cyril points out that the current toxic sentiment is a classic setup for major market rallies.

He emphasizes that the time to de-risk was earlier in the cycle, not now, as the market has only been rejected from an initial target, with further targets still in play.

Furthermore, it has been observed that each major bull cycle has concluded with a significant drop in Bitcoin’s market share, which has opened up huge opportunities in the altcoin market. This, according to him is something that is likely to happen in the forthcoming months as well hitting a peak of October 2025. 

 

According to the analyst, the market makers may try to deceive investors by saying that the bull market is over, but the current re-accumulation phase is an indication of the contrary. Cyril expects that the sellers who are forced to sell at a lower price will buy back at a higher price, thus, supporting the idea of altcoin surge.

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Technical Indicators and Historical Patterns

The technical analysis also backs the bull’s view of the market in regard to the altcoins. The 50-day and 200-day moving averages (MAs) show bullish trends, but recent price actions have neared these MAs, implying sideways movements. However, as seen from the chart, prices are making higher lows while the MACD is making lower lows indicating that the bullish trend may continue.

Moreover, according to Mikybull, the market is now in the consolidation stage, with prices penetrating short-term MAs but remaining above long-term MAs. This phase, which is usually preceded by a ‘final shake out,’ is characterized by selling by the weak hands, thus paving way for a new bullish phase.

Historical data reveals that previous cycles with similar technical setups led to significant price increases in altcoins. For instance, in past cycles, according to crypto analyst Michael van de Poppe, altcoins like Solana (SOL), Fetch.ai (FET), and Render Token (RNDR) saw gains of 500%, 650%, and 300%, respectively. 

This time round, as per a Coingape report, some of the trending altcoins that may lead this rally and have a potential 20,000% profit are LayerZero (ZRO), zkSync (ZK), and Solana (SOL).

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Gaussian Channel Points to Breakout

Subsequently, comparing the current market to previous cycles, such as those in 2017 and 2021, reveals striking similarities. Both periods began with consolidation phases followed by steep, parabolic rises in market cap. These formations typically indicate accumulation and a build-up of buying pressure, leading to breakouts.

The present market structure mirrors these historical patterns, with a consolidating triangle formation and strong baseline support. 

If this pattern holds, projections for 2024 suggest another significant rally. Additionally, the 3-week Gaussian Channel recently shifted from red to green, indicating a transition from bearish to bullish conditions. Historically, such transitions have preceded robust market rallies.

Read Also: Top 4 Altcoins To Buy That Can Hit A $100 Billion Market Cap

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Kelvin Munene Murithi

Kelvin Munene is a crypto and finance journalist with over 5 years of experience, offering in-depth market analysis and expert commentary . With a Bachelor's degree in Journalism and Actuarial Science from Mount Kenya University, Kelvin is known for his meticulous research and strong writing skills, particularly in cryptocurrency, blockchain, and financial markets. His work has been featured across top industry publications such as Coingape, Cryptobasic, MetaNews, Cryptotimes, Coinedition, TheCoinrepublic, Cryptotale, and Analytics Insight among others, where he consistently provides timely updates and insightful content. Kelvin’s focus lies in uncovering emerging trends in the crypto space, delivering factual and data-driven analyses that help readers make informed decisions. His expertise extends across market cycles, technological innovations, and regulatory shifts that shape the crypto landscape. Beyond his professional achievements, Kelvin has a passion for chess, traveling, and exploring new adventures.

Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
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