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The cryptocurrency market is at a pivotal moment, with altcoins potentially gearing up for a major breakout. Based on the latest chart analysis of the total crypto market cap excluding Bitcoin and Ethereum, we could be on the verge of a significant altcoin season. But what signs indicate this shift, and what can traders expect in the coming weeks? Market Structure and Key Indicators The chart above shows a descending trendline acting as resistance, with multiple rejections at that level. However, a critical support zone lies below, where the price has historically found demand, making it a potential area for a reversal. The expected movement suggests a final dip into this support zone before an upward surge. Several indicators support this hypothesis: Historical Breakout Patterns: Previous downtrend breakouts have led to explosive growth in the altcoin market. The last time we saw a similar structure; altcoins witnessed a parabolic run. Liquidity and Volume: The market cap has been consolidating around a key support zone, suggesting that accumulation is occurring. Smart money tends to buy during these phases before significant moves. Bitcoin Dominance: If Bitcoin dominance starts to decline, it could indicate capital rotation into altcoins, further fueling an Alt season. Potential Scenarios Bullish Breakout: If the market cap holds the support zone and breaks above the descending trendline, we could see a rapid increase in altcoin prices. This scenario aligns with the projected zig -zag price action toward the $1T market cap level. Extended Consolidation: The market could move sideways before breaking out, allowing altcoins more time to accumulate strength. Bearish Breakdown: If support fails, the market may decline to the next significant support zone around $600 billion before a recovery occurs. What This Means for Traders Short-term Traders: Watch for a potential retest of support and a breakout confirmation before taking positions. Long-term Investors: This could be an accumulation phase, with significant upside potential if historical patterns repeat. Risk Management: While the setup looks promising, traders should be mindful of global market conditions and macroeconomic trends that could impact crypto prices. Final Thoughts With market conditions aligning for a possible altcoin rally, traders should stay vigilant and prepare for opportunities. The next few weeks will be crucial in determining whether Alt season is truly around the corner or if more consolidation is needed before the breakout. Keep an eye on Bitcoin dominance, overall market sentiment, and key support levels to navigate this potential shift effectively. Are you ready for Alt season? Stay informed and trade wisely!

$ZIG $ZIG massive broadening wedge pattern 👀 The support level is holding well while the price is bouncing back with good volume. All it needs now is the overall market to turn positive and then $ZIG next leg up will start.

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