• A crypto analyst is foreseeing a major shift in the altcoin market.
• The Altcoin could soon be breaking out of a 2-year falling wedge.
• Dogecoin (DOGE) is up 26% as the meme currency enjoys a resurgence.

A crypto trader and analyst made a post on Twitter this week, giving his insights into the altcoin market and what could be in store in the near future. According to the analyst, the altcoin market is ready for a significant move.

Crypto total market cap excluding BTC 3D (Source: Twitter)

The analyst attributes this prediction mainly to the possibility of the altcoin breaking out of a two-year falling wedge. The analyst also noted an inverse head and shoulder pattern that has appeared on the altcoin charts. Judging from the comments, it appears that a majority of the crypto community is in agreement with the post.

/ US 1DSource: TradingView)

Looking at CoinMarketCap, it is clear that the past 24 hours have been particularly kind to the majority of the major altcoins. Dogecoin (DOGE), the meme currency, is trading at $0.09921 today, following a tweet by Elon Musk where he replaced Twitter’s logo with the Dogecoin symbol. This has seen the cryptocurrency rise by more than 26% in the past seven days.

Cardano (ADA) and Polygon (MATIC) are also doing well, both up by more than 1%. Both cryptos have been performing well over the past week, with MATIC up by 4.95% and ADA up by more than 11%.

SOL priceSource: CoinMarketCap)

Solana (SOL) has also seen a good 24 hours, trading at $20.60, following a 2% rise in price.

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