\t\t\t\t\t\t
<\/p>\n
- \n
- ETH, BNB, and XRP showcased bullish metrics, suggesting price upticks.<\/span><\/em><\/li>\n
- DOGE was lying low while SHIB\u2019s price surged by over 2% in the last 24 hours.\u00a0\u00a0<\/span><\/em><\/li>\n<\/ul>\n
Major altcoins like<\/span> Ethereum [ETH]<\/span><\/a>,<\/span> BNB Chain [BNB]<\/span><\/a>, and<\/span> Ripple [XRP]<\/span><\/a> have been disappointing investors for quite some time now with their slow-moving performances. However, if the latest data is to be considered, things might take a U-turn soon.<\/span><\/p>\n
\nRead<\/span> Ethereum\u2019s [ETH] Price Prediction<\/span><\/a> 2023-24<\/span><\/p>\n
\nBut as we enter the last quarter of 2023, the crypto market has the potential to turn volatile, and here\u2019s how.<\/span><\/p>\n
Is the altcoin market getting ready for a bull run?<\/b><\/h4>\n
Mags, a popular crypto analyst, recently posted a tweet revealing details about the current market condition. As per the tweet, the altcoin market cap has been trading inside a massive Wyckoff accumulation pattern.<\/span><\/p>\n
\n
#Altcoin<\/a> Bull Run Is Finally Here ?? \ud83d\udd25<\/p>\n
The Altcoin Market Cap has been trading inside a Massive Wyckoff Accumulation Pattern \ud83d\udcc8<\/p>\n
This Pattern consists of 5 Phases :<\/p>\n
\u2022 PHASE A : This phase marks the end of the downtrend as supply weakens after intense selling.<\/p>\n
\u2022 PHASE B :\u2026 pic.twitter.com\/h9B9e0YfHh<\/a><\/p>\n
\u2014 Mags (@thescalpingpro) September 30, 2023<\/a><\/p>\n<\/blockquote>\n
This pattern consists of five phases. At press time, the chart was in the fourth phase, named D. During this phase, the price will reportedly move at least to the upper resistance lines as demand takes over. <\/span><\/p>\n
After the completion of Phase D, Phase E will take over, in which the price will break out, demand will be in full control, and the uptrend will be obvious to everyone.<\/span><\/p>\n
Doubts still remain<\/b><\/h4>\n
Though the aforementioned data looked optimistic, a closer look at the top altcoins provided a better understanding of what might be ahead. For instance, Ethereum, which is the largest altcoin by market capitalization, failed to breach the $1,700 mark of late. <\/span><\/p>\n
At the time of writing, ETH was<\/span> trading<\/span><\/a> at $1,686.51 with a market cap of over $202 billion. CryptoQuant\u2019s<\/span> data<\/span><\/a> revealed that ETH\u2019s exchange reserve was increasing, meaning that the token was under selling pressure at press time.<\/span><\/p>\n
![\"\"](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/CryptoQuant-ETH.png\")
<\/a><\/p>\nSource: CryptoQuant<\/p>\n<\/div>\n
Another bearish signal was that<\/span> ETH<\/span><\/a>\u2018s total number of coins transferred has decreased by -57.66% in the last 24 hours. Additionally, its takers buy\/sell ratio was also in the red, suggesting that selling sentiment was dominant in the derivatives market at the time of writing.<\/span><\/p>\n
This further increased the chances of a downtrend in the days to follow.<\/span><\/p>\n
A look at how other altcoins are doing\u00a0<\/b><\/h4>\n
While ETH\u2019s performance was underwhelming, the second-largest altcoin, BNB, also failed to surprise investors. As per CoinMarketCap, BNB only moved marginally over the last 24 hours. At the time of writing, it was trading at $215.89 with a market cap of over $33 billion. <\/span><\/p>\n
But<\/span> BNB<\/span><\/a>\u2019s MACD displayed a bullish crossover, which hinted at a more volatile price movement towards the north. Its Relative Strength Index (RSI) also registered an uptick and was headed above the neutral mark. <\/span><\/p>\n
Nonetheless, its Money Flow Index (MFI) went the other way around as it dropped.<\/span><\/p>\n
![\"\"](\"image\/svg+xml,%3Csvg%20xmlns=\")
![\"\"](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/BNBUSDT_2023-10-01_15-36-53.png\")
<\/a><\/p>\nSource: TradingView<\/p>\n<\/div>\n
Though a few of the market indicators were in BNB bulls\u2019 favor, its social metrics soared. As per<\/span> LunarCrush<\/span><\/a>, BNB\u2019s social engagement soared by more than 33% last week. <\/span><\/p>\n
Additionally, its Altrank and bullish sentiment also improved considerably last week, suggesting a price uptrend soon. A similar slow-moving trend was also seen on XRP\u2019s graph, which merely moved in the last 24 hours in terms of price. <\/span><\/p>\n
After a massive spike, XRP\u2019s trading volume also dropped. But the good news was that its 1-week price volatility was up.<\/span> The token\u2019s<\/span><\/a> Binance Funding Rate also remained green, reflecting its popularity in the derivatives market.<\/span><\/p>\n
![\"\"](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/XRP-Ledger-XRP-15.40.08-01-Oct-2023.png\")
<\/a><\/p>\nSource: Santiment<\/p>\n<\/div>\n
More bullish indicators were revealed upon checking XRP\u2019s daily chart. As per TradingView, XRP\u2019s Chaikin Money Flow (CMF) gained upward momentum. Apart from that, the token\u2019s Relative Strength Index (RSI) also moved upwards, giving hope for a price uptick in the days to follow. <\/span><\/p>\n
At the time of writing. XRP was trading at $0.5207, with a market cap of over $27 billion.<\/span><\/p>\n
![\"\"](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/XRPUSDT_2023-10-01_15-42-25.png\")
<\/a><\/p>\nSource: TradingView<\/p>\n<\/div>\n
Are the memecoins gaining momentum?<\/b><\/h4>\n
While mentioning altcoins, it\u2019s important to also include top memecoins such as<\/span> Dogecoin [DOGE]<\/span><\/a> and<\/span> Shiba Inu [SHIB]<\/span><\/a>. Notably, both memecoins did not show any sign of decoupling. <\/span><\/p>\n
- DOGE was lying low while SHIB\u2019s price surged by over 2% in the last 24 hours.\u00a0\u00a0<\/span><\/em><\/li>\n<\/ul>\n