“Largest Altcoin Bull Run of All Time Is Loading,” Analyst Says as Key Charts Break Out

The altcoin market may be approaching a turning point after several major gauges broke out of year-long downtrends, according to analyst Matthew Hyland.

His charts suggest smaller cryptocurrencies are gaining ground against Bitcoin and traditional risk assets, although rising leverage also increases the odds of a painful correction.

Altcoin Gauges Break Long Downtrends In a post published on September 7, Hyland said ETH, Total 2, Total 3, and OTHERS had all confirmed the end of their year-plus declines by forming higher highs. Let’s break that down a bit.

Total 2 tracks altcoins excluding Bitcoin, while Total 3 removes both BTC and Ethereum. OTHERS excludes the top 10 cryptocurrencies and therefore focuses more heavily on smaller tokens.