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Historical Trends in TOTAL2: Double Bottoms and RSI Behavior Suggest Upward Momentum
TOTAL2 has recently recorded a major breakout in November 2024, which may signal potential growth in the altcoin market. Historical analysis reveals recurring patterns of double bottoms, higher lows, and re-accumulation phases driving upward momentum. Notably, the 2024 re-accumulation phase aligns with previous cycles, hinting at a continuation of long-term upward market trends.
The recent breakout in TOTAL2 marks one of its most significant movements in history, drawing attention to long-term market trends despite the focus on short-term fluctuations. A thorough analysis by Moustache highlights varied trends over several cycles, focusing on double bottoms, higher lows, and re-accumulation phases.
In 2015, a double bottom with higher lows observed a recovery point, followed by a retest phase in 2016. Similar patterns recurred in 2018-2019 and 2020, with double bottoms leading to sustained upward movements. The 2022-2023 period shows another double bottom, accompanied by higher lows and a re-accumulation phase in 2024. Each re-accumulation period coincided with market consolidation and eventual growth.
RSI (Relative Strength Index) movements align with these patterns, indicating cyclical behavior and upward momentum after bottom formations. The current 2024 re-accumulation phase suggests a continuation of the historical market trend observed in earlier cycles.
Furthermore, similar breakouts have been observed in the past, such as those seen in 2017. Following comparable breakouts, the market displayed two sideways candles on the monthly chart. These patterns indicate that such movements are not unprecedented and align with historical trends seen in the altcoin market.
The recent TOTAL2 breakout shares similarities with these past occurrences, emphasizing its significance. Amid heightened market interest and volatility, this development suggests potential growth in the altcoin sector. Historical trends suggest that periods of consolidation, like those observed in 2017, often precede significant upward movements.
Market observers are closely monitoring further signs of sustained momentum.
Source: cryptonewsland.com
