3 Factors Are Aligning That Could Trigger an Altcoin Recovery
Three converging factors – a bullish MACD signal, rising PMI data, and low inflation – suggest a potential recovery for altcoins after a prolonged downturn.Summary
The altcoin market may be poised for a recovery as three key factors align. Analyst Ash Crypto points to the ALT/BTC pair printing its fourth consecutive green MACD bar, a signal not seen since 2020, which historically preceded a 60% surge in altcoins against Bitcoin. Additionally, the ISM Manufacturing PMI has remained above 52 for three consecutive months, indicating economic expansion, and US inflation is at a five-year low, creating a bullish macro backdrop. Analyst Merlijn The Trader also notes a multi-year cup-and-handle pattern forming in altcoins, a bullish chart pattern. However, a full altcoin season isn't yet confirmed, requiring ISM readings above 55, broad liquidity expansion, and a decline in Bitcoin dominance. The recovery window is estimated at two to three months, contingent on Bitcoin breaking $76,000 and Ethereum reaching $2,800-$3,200, alongside a resolution to geopolitical tensions.
(Source：BeInCrypto)