Analysts Predict Altcoins Will Experience an Explosive Rally

Over the weekend, crypto markets began recovering from one of their sharpest corrections since February. Bitcoin and altcoin markets saw drops not seen since that month.
While certain members of the crypto community felt as if the bull run was over or needed time to “chill-off”, others seemed optimistic about its continuation. Now that markets have recovered from correction, analysts anticipate an altcoin season may soon arrive.

MilkybullCrypto shared with his X followers over the weekend that Altcoin market capitalization had reached an “RSI level which can initiate an explosive rally”.
Per his chart, this level is the “reset for a healthy rally”, as evidenced in 2016 and 2020 when altcoins reached this mark and then saw “huge rallies”.
On Monday, Milkybull revealed his latest forecast after witnessing the market rebound strongly. For him, altcoin market cap had completed “Heavily Retested.”
Market history suggests a similar market correction before its subsequent surge to all-time high (ATH) levels in 2020-2021. If history repeats itself, altcoins might be in for another “explosive rally”.

Altcoins generally exhibiting similar performance between cycles. Source: MilkybullCrypto Crypto trader and analyst Captain Fabik believes a healthy correction has occurred, noting a bullish falling wedge pattern as indicative of imminent rally action on his X post.
Altcoins “Cooling Off or Euphoria Incoming?”
According to Rekt Capital analyst and trader Rex Tanaka, Rekt’s estimates show that altcoin market cap, outside the top 10 cryptocurrency offerings, has successfully tested support levels at $250 billion over recent weeks.
Rekt Capital predicted in his “Ultimate Altcoin Market Cap Game Plan For The Coming Months” that altcoins would follow their proposed path, projected that market capitalisation surge to $315 billion before retreating back down towards 250 billion; subsequent to this decline would come an explosive surge above $440 billion market capitalisation.
Altcoins have managed to remain above the $250 billion support zone despite strong corrections, according to this chart. According to one analyst, this suggests the market may now be showing initial signs of trying to turn back up again from here.

Rekt Capital Has Outshone the Competition By Formulating An Infallible Plan For Altcoin Market Capitalisation in 2019. Source: Rekt Capital
Renowned figures have expressed their disappointment with altcoins’ performance this cycle. Altcoin Sherpa notes that many alts did not even run that hard over recent months – suggesting it may be time for a “cool-off.” At that time, an analyst considered altcoin’s rally was “done” for between one to four months.
Others believe altcoins will soon reach an “euphoria phase.” According to Crypto Yhodda, alts will rise again by 2024 and “go crazy.” Additionally, analyst believe “Altcoin Cycle III” will bring us many unexpected pumps.
According to his chart, altcoin cycles I and II exhibited a symmetrical triangle pattern before their breakout and surge, followed by slowdown before continuing upward trajectory known as Round 1 by analysts.
Subsequently, the rally would repeat this pattern on its second round before reaching its pinnacle of cycle III. Unfortunately for analysts examining Cycle III data from Round 1, Round 1 appears to still have some distance before hitting “euphoria phase.”

Altcoin market capitalization currently sits at $1.045 trillion according to TradingView’s TOTAL 2 chart; image via Unsplash; chart from TradingView
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