Altcoins are flashing technical signals not seen since 2020, with a multi-year wedge breakout and a looming MACD crossover drawing attention across crypto markets this week.
The setup has fueled renewed speculation that a broader altcoin rally could be forming.
Breakout Pattern and Momentum Signals Return
Analyst Mark Chadwick highlighted the signals in question in a post on X on April 8, where he claimed that altcoins were “starting to look insane.” His analysis is centered on a falling wedge pattern across several years on the TOTAL2 chart, which tracks the combined market cap of altcoins minus Bitcoin.
The structure, which has formed since the market peak in 2021, shows a prolonged downtrend with weakening selling pressure, and according to Chadwick, altcoins have now broken above this wedge, a move usually considered by market watchers as a reversal signal.
In addition, the analyst pointed out that the MACD indicator is also approaching a bullish crossover, and if confirmed, i
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