Despite recent declines in altcoin prices by 30% to 70%, there is potential for a bullish breakout according to renowned crypto analyst Moustache. He indicates that altcoins are currently forming a perfect Wyckoff accumulation pattern, a technical setup that often precedes a significant price surge.
Investors have grown anxious due to the continuing price falls, questioning whether to hold onto their assets. However, Moustache's analysis offers a more optimistic outlook, suggesting that a new altcoin season could be on the horizon.
The emergence of a Wyckoff accumulation pattern is a key indicator in technical analysis, often signaling the start of an uptrend. If this prediction holds, altcoin investors might soon see substantial gains, revitalizing interest in the market.
