Altcoins About to ‘Copy What Bitcoin Has Already Done’ as This Proven Indicator Signals Imminent Major Price Rally
Noted cryptocurrency analyst Moustache (@el_crypto_prof on Twitter) posted two charts recently indicating that altcoins may be on the cusp of a major bull run. In the first tweet, Moustache showed Bitcoin’s price chart on the left and altcoins’ chart on the right, noting “You thought Altcoins had a good run? Wait until they copy what $BTC has already done.”
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Altcoin MACD Close to Breakthrough
He goes on to note that the MACD (Moving Average Convergence Divergence) indicator for altcoins “is about to break through the Zero-line. It’s about time.” The MACD crossing the zero line from negative to positive territory is often interpreted as a buy signal, indicating upside momentum is building.
In his second tweet, Moustache shows the monthly altcoin chart with the 20-month simple moving average (SMA20).
Golden Cross Imminent in Altcoins
He notes that a “golden cross” of the SMA20 is imminent, where the faster-moving 20-month SMA crosses above the slower-moving SMA. Moustache states “This has only happened twice before in the history of Altcoins. In 2016 and 2020, this signalled the start of the Altcoin bull market.”
Moustache concludes, “We haven’t seen anything yet,” implying that altcoins could be ready for a parabolic advance if the golden cross is confirmed. He indicates he will update the chart regularly.
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The key indicators Moustache highlights have preceded the last two major altcoin bull markets. If history is any guide, the charts suggest we could expect significant upside in altcoins over the medium-term. With Bitcoin already surging to new highs, altcoins playing “catch up” could result in dramatic price appreciation if buying momentum continues building. Crypto investors may want to watch these charts for signs of the next altseason heating up.
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