Altcoins About To Take Off? Analyst Says The ‘Final Shakeout’ Is Over

Name	Symbol	Market	Market Cap ($)	Algorithm
Solana	SOLUSD	Crypto	111,221,245,595	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Solana

SOLUSD

Crypto

111,221,245,595

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	9.89	4.34%	237.84	237.81	237.83

Price Change

Price Change %

Current Price

Bid Price

Offer

9.89

4.34%

237.84

237.81

237.83

High Price	Low Price	Open Price	Prev. Close	52 Week Range
242.00	226.79	228.41	227.95	92.44 - 295.00

High Price

Low Price

Open Price

Prev. Close

52 Week Range

242.00

226.79

228.41

227.95

92.44 - 295.00

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	07:53:23	0.016299	237.84	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

07:53:23

0.016299

237.84

USD

Price x Volume	Volume	Base Symbol	Related Pairs
135,737,304.42	572,724.43	SOL	SOLEUR	SOLGBP	SOLBTC

Price x Volume

Volume

Base Symbol

Related Pairs

135,737,304.42

572,724.43

Altcoins About To Take Off? Analyst Says The ‘Final Shakeout’ Is Over

18/01/2025 6:30am

NEWSBTC

After a red Monday, the crypto market seems to be moving toward a green end of the week, registering an 18.54% increase from this week’s lows. Altcoins have broken out of a bullish formation, fueling investors’ optimism about the upcoming Altseason. Related Reading: XRP Hits Seven-Year High After 16% Surge, Is A New ATH Around The Corner? Altcoins Final Shakeout ‘Completed’ On Friday, the crypto market recovered from its recent correction, with Bitcoin (BTC) reclaiming the $100,000 mark after days of hovering below this resistance level. Similarly, The King of Altcoins, Ethereum (ETH), reclaimed the $3,400 range after dipping below a key support level earlier this week. Other leading altcoins like Solana and XRP have also gained bullish momentum, with the former reclaiming crucial levels and the latter nearing its all-time high (ATH). Notably, the total crypto market capitalization, excluding BTC and ETH, surged 4% in the last 24 hours, hitting its highest point since the December retraces. Altcoins broke out on a three-year downtrend during the November-December rally, surging to $1.1 trillion, its highest market cap since 2021. However, the sector struggled to record significant gains after the end-of-year corrections, dropping around 25% from the post-election highs. Despite the performance, several crypto analysts predicted that Alts would see a bullish start to the year. On Monday, Altcoins fell to its lowest price range in weeks, dipping to a $900 billion market cap, but is now retesting last month’s highs. Amid the current performance, Titan of Crypto suggests that the “final shakeout seems completed.” The analyst previously asserted that the “grand finale” was around the corner, signaling that alts were about to explode. Alts Following Q1 2024 Performance? Recently, the analyst pointed out that a golden cross is “imminent” in the Altcoins chart. According to the post, “It’s only a matter of time before FOMO kicks in,” as 2021’s golden cross, which occurred at the start of that year, kickstarted a massive Altseason. Titan of Crypto added that early 2025 “could echo the explosive Altcoins rally of early 2021,” noting that the crypto market’s performance seemed to resemble its performance from four years ago. Meanwhile, crypto investor Miky Bull noted that Altcoins seems to be repeating its Q1 2024 playbook, which could lead to a “rally déjà vu.” Per the chart, the sector broke out of a multi-month trendline at the end of 2023 before a brief correction period and retest of the new levels. Then, Altcoins exploded at the beginning of Q1 2024, rallying until March, which is “the cogent reason that this Altseason might run till March.” Related Reading: Chainlink ‘Ready To Breakout’: Analyst Eyes $50 Target Amid Whale Accumulation The investor asserted that Altcoins market cap “has just completed its retest Expansion phase in full force loading,” as the crypto market capitalization, excluding the top ten tokens, had broken out of a 42-day accumulation period, which meant that “alts rally will follow.” Similarly, analyst Jelle highlighted that Alts had formed a bullish pennant “right below all-time high resistance,” which could lead to a massive rally once it broke. After the recent surge, Altcoins have broken out of the bullish formation, leaving “price discovery just inches away.” Featured Image from Unsplash.com, Chart from TradingView.com

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SOLUSD Solana