news 
Bullish Retest Confirms Trend: Altcoin Market Eyes Long-Term Growth
In a recent market update, we have observed a retest of resistance as support, which is a bullish sign for the altcoin market. This development strengthens our earlier prediction that this trend will continue in the long-term.
As reported by CryptoNewsLand, a retest of resistance is an unusual phenomenon in markets where there’s no prior bearish trend to correct. However, given the current situation and chart readings, it has been seen, and I am not alone in considering this as a significant sign for potential growth.
The altcoin market has consistently displayed an ascending triangle pattern over the past several years. This formation is recognized as a continuation pattern that usually precedes a major price swing in one direction. The most recent chart action has witnessed a breach of horizontal resistance, which has been serving as an upper limit to market expansion.
Further to this event, we have observed a retracement to the breakout point, which is further solidifying our conviction that the buyers are now back in control, determined to defend their newly found support.
Source: cryptonewsland.com
