Gold is setting new records, and after BTC reached its new ATH, some investors are fraught with fear of a downturn. The ongoing skittishness among investors stems from years of unsuccessful altcoin rally attempts, leading them to focus on multiple potential trends. Today, DaanCrypto highlights the breaking stage for altcoins as they strive for new records.
Altcoins at a Breaking Point
With BTC fluctuating around $123,000 and altcoins retreating to support levels, the day unfolds with notable shifts. October has commenced positively as macroeconomic data aligns favorably, accompanied by Trump’s announcement of support checks. BTC marked a new peak above $126,000, although many forgot that the spot price had increased by $100,000 since the BlackRock ETF application. Could the panic phase be part of history now?
DaanCrypto believes that the total market cap graph for altcoins is now at a breaking point. According to DaanCrypto, the total Altcoin Market Cap has recently hit an all-time high, attempting to surpass its 2021 peak. This weekly candlestick will be pivotal in determining if it’s a convincing break. To consider it as a genuine break, at least 1-2 weekly candlesticks need to close well above the 2021 highs.
Should this occur, it will likely coincide with ETF approvals. Even if we don’t witness a rally akin to 2021 in altcoins, rapid gains are possible in promising, differentiated assets worth the risk. A rise often seems improbable until it starts, and once it starts, many believe it won’t end. Thus, keep the previous notion in mind until the increase begins and even afterwards.
ZIG Coin Analysis
Among the overlooked altcoins, numerous launches occur so frequently that new ventures are easily forgotten. Reviewing notable launches from the past two years, each believed in their superiority, yet many currently rest dormant with market caps in the hundreds of millions. ZIG Coin is a favorite of the anonymous crypto analyst ANBESSA, who anticipates a 55% rise.
“I made a long-term purchase in 2024 and have staked my ZIG tokens for over a year. I expect to receive rewards at the beginning of November, but most importantly, I anticipate the rise to continue. From a technical analysis perspective, we observe symmetrical triangle consolidation and a subsequent s/r flip at $0.1106. It couldn’t be more ready for a run above $0.14.”
Naturally, one should not expect unbiased commentary from an analyst invested in a particular altcoin. Evaluate such perspectives with this understanding in mind.
