The post Analysts Target $1.3 Trillion Cap appeared on BitcoinEthereumNews.com.

Altcoins show bullish momentum after a 36-day correction, with a projected 27.5% gain toward a $1.3 trillion market cap. The market awaits a confirmed breakout above key resistance. Analysts predict a potential altcoin season driven by historical patterns and Donald Trump’s upcoming inauguration. The altcoin market is showing renewed signs of strength after a 36-day correction. According to analyst Captain Faibik, who posted a detailed chart on X, the altcoin market is showing signs of bullish momentum. “After 36 Days of Correction, Altcoins Are Ready to Fly Again,” Faibik stated. His chart reveals a bull pennant pattern forming in the total altcoin market cap, with a confirmed breakout above resistance. This technical pattern suggests the continuation of an upward trend, potentially pushing the market cap toward a $1.3 trillion target—a 27.5% gain from current levels. Altcoin Market Insights The breakout was confirmed with robust buying pressure, evidenced by a significant daily green candle above the pattern’s resistance line. Continued buying could drive broader market momentum, benefiting a range of altcoins. This comeback rally follows a period of uncertainty in the crypto market in the initial weeks of 2025, during which altcoin prices tanked. However, the current price action suggests that altcoins may soon regain their dominance. Notably, the total market capitalization for altcoins currently stands at $1.05 trillion. A decisive breakout above the pennant’s resistance line indicates renewed investor confidence. Trump’s Inauguration: A Bullish Catalyst for Altcoins? Adding to the bullish sentiment is a recent chart shared by another analyst, Crypto Rover, sparking discussions about a potential “altcoin season” in January 2025. Read also: 2025 Crypto Outlook: Banks and Trump Policies Drive New Innovations The chart compares the current market conditions to the 2021 cycle, highlighting a similar consolidation pattern near the previous cycle’s all-time high (ATH). In 2021, the…

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Filed under: News - @ January 17, 2025 7:25 pm