The altcoin sector is reportedly nearing a crucial point when it comes to market performance. The altcoin landscape has rebounded from trend line, pointing toward the likely beginning of the altseason. Altcoins have gradually started to recover after witnessing a huge correction spanning a few months.

Altcoin Market Stands on Verge of Altseason as Rebound from Trend Line Suggests

The market data reveals that the market capitalization of the altcoin sphere (Total2) is currently standing at nearly $976.81B. This figure signifies a 2.31% increase over the latest 3-day candle. In addition to this, the altcoin market has recently rebounded from a significant long-term trend line. This level has formerly been serving as a key resistance point during several consolidation phases during 2023 and 2024.

At the moment, the respective level provides considerable support. Hence, the rebound from this level has raised concerns among technical altcoin traders. The crypto analyst has also pointed toward the formation of a “golden cross.” The place of the golden cross is between the Relative Strength Index as well as its simple moving average. Such a golden cross often plays the role of a bullish sign.

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The crossover of the RSI and SMA often indicates the return of an upward momentum to the market. At the moment, the RSI levels are still lower than the overbought territory. Even then, they are highlighting a clear uptick while moving in line with the noteworthy price rebound. Thus, the overall market scenario is favoring the idea of an impending bull run in the altcoin sector.

Broader Altseason to Begin Following Downtrend Resistance Breakout

The oscillators like MACD histogram and Stochastic RSI denote mounting bullish momentum for altcoins. The Stochastic RSI is currently curving in the upward direction from oversold zone. This reveals the commencement of the building price momentum. In the meantime, the MACD histogram is signaling the slowdown in the bearish momentum. Nonetheless, the actual price rally will only launch once the downtrend resistance breaks. A confirmed breakout in this respect would start the full-fledged altseason.