The crypto market has been in a horizontal accumulation phase and is likely to continue until the fourth Bitcoin halving triggers the next bull market.
On-chain data shows that institutional money has been flowing into the crypto industry in recent months, as investors bet on the long-term bullish trend. Bitcoin investment products like ETFs and ETPs have seen strong inflows, while most altcoins have continued to bleed.
Venture capital funds are also under pressure to return profits to investors, despite the bearish market conditions. However, a popular crypto analyst believes that the accumulation phase is nearing its end and that a breakout is imminent. Here’s what he has to say.
Altcoins are Primed for Action!
According to a popular crypto analyst on the X platform, Captain Faibik, time is running out on the accumulation phase and the altcoin breakout will happen soon. Notably, Captain Faibik expects the altcoin market, excluding Ethereum (ETH), to rally to about $1.4 trillion after next year’s Bitcoin halving. Meanwhile, the analyst urged investors to take advantage of the opportunity and accumulate as much as possible.
Read More: This Week Could Be Crucial For Bitcoin & These Altcoins- But Why?
SushiSwap (SUSHI) is Revving Up
SushiSwap (SUSHI) is preparing for an imminent breakout that could lead to a 517 percent rally. The crypt analyst argued that SUSHI has been forming a symmetrical falling wedge pattern on the weekly chart that depicts the bulls being well-charged.
Trading around 61 cents on Thursday, the SUSHI price has formed a rising divergence on the weekly RSI with a possible triple bottom.
Also Read: Popular Altcoins that are at the Foothill of Massive Explosion: SUSHI, EOS, CHR, and HBAR