Crypto winter seems to be behind us and soon we might see an 'altcoin season,' according to technical analysis by CarpeNoctom. Reports godbole17.
Josh Olszewicz, a crypto trader and former researcher at Valkyrie Investments. Olszewicz analyzed the charts of altcoins, excluding ether and prominent stablecoins.
Chartered market technicians ascertain the post-breakout price target by adding the depth of the pattern to the breakout point. The bounce from the right shoulder low has stalled in the past three weeks, with the market cap consolidating at around $230 billion at press time. The pattern will be complete once the market cap rises past the neckline resistance located near $300 billion.
"I don't buy the head-and-shoulders pattern that's sitting in the middle of consolidation. I am waiting for a break above $300 billion," Olszewicz added.
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