Altcoin Market Falls 1.45% to $1.02 Trillion, Eyes $1.75T Target

The altcoin market, excluding Bitcoin and Ethereum, has navigated a 1.45% pullback to $1.02 trillion, maintaining critical support above $1 trillion and reinforcing its bullish trajectory. Despite the correction, technical indicators suggest the market is in a consolidation phase rather than a reversal, with analysts highlighting structural resilience and a long-term target near $1.75 trillion. The decline, which erased $14.79 billion in market value on July 24, has been interpreted as a "gift" by traders, who view it as a healthy repositioning after months of gains.

The market’s upward structure has been validated through a series of breakouts and retests. A three-year ascending channel, formed since 2023, highlights a clear path toward the $1.75 trillion threshold. Key milestones, such as the $1.2 trillion peak in early 2025 and subsequent retests near $370 billion and $730 billion, have solidified higher lows and bullish continuation patterns. While the current consolidation phase has brought the market to $1.02 trillion, the psychological $1 trillion level remains firmly supported, with near-term resistance at $1.10 trillion and secondary targets at $1.27 trillion [1].

Technical analysis underscores the market’s stability. The Relative Strength Index (RSI) has cooled from an overbought peak of 76.11 to 61.76, signaling reduced momentum but no reversal in trend. Meanwhile, the Moving Average Convergence Divergence (MACD) remains in bullish territory, with the line at 50.83 billion above the signal line at 45.85 billion. However, the narrowing histogram and shrinking gap between these metrics suggest waning strength. A sustained close below $1.03 trillion could trigger bearish pressure, though the broader bullish structure remains intact as long as the $1 trillion support holds [1].

Trading volume has decreased to 259.37 billion, a marked decline from levels seen during initial breakouts. This drop in activity aligns with analysts’ assessments that the pullback is a temporary correction rather than a systemic selloff. Lower volume during consolidations is typical in mature bullish cycles, as traders shift from aggressive buying to strategic position adjustments. If the market can reclaim $1.03 trillion, it may resume its ascent toward the $1.75 trillion target. A breakdown below $998 billion, however, could test deeper support at $950 billion or $920 billion [1].

The altcoin market’s resilience is attributed to its ability to retest and hold key support levels, reinforcing confidence in its long-term structure. Analysts note that the correction has provided an opportunity for traders to add positions at more attractive entry points, particularly for altcoins that outperformed during the earlier rally. While momentum indicators hint at a pause in the bullish trend, the overall framework—shaped by multiple successful breakouts and a well-defined ascending channel—remains intact. The path to $1.75 trillion will likely require further consolidation and volume expansion, but the current setup suggests a controlled correction rather than a breakdown in sentiment [1].

Source: [1] [Altcoin Market Eyes $1.75T Target as Pullback Seen as a ‘Gift’ by Traders] [https://cryptofrontnews.com/altcoin-market-eyes-1-75t-target-as-pullback-seen-as-a-gift-by-traders/]