I'm seeing some interesting signals in the altcoin market that deserve attention. It seems we're approaching a bottom, but the reality is that selling pressure is still strong.

Historical data shows something quite curious. When you compare the market capitalization of altcoins with the total crypto market, the numbers point to a possible bottom. This closely resembles the bottoms of 2014, 2018, and 2022, all marked by oversold RSI readings in 24. These periods were brutal, but then they led to the biggest altcoin seasons. This time might be different, but the technical signal is there.

The most interesting thing is what's happening with ETH/BTC. After weeks of consolidation, the pair rose above a small range and broke the support zone of 0.03250 BTC. When ETH gains strength against BTC, altcoins tend to follow. It's like a sign that the market is changing direction.

But here’s the point that can't be ignored. Altcoins against Bitcoin just broke out of a massive descending wedge pattern that started in 2022. This descending wedge is exactly the type of formation you want to see break upward. If current strength persists, this move could become parabolic. Some analysts are calling this the final phase of the cycle.

The question is: why does selling pressure continue? In the last 3 months, only 6 assets remained in the green among the top 50. Six. This includes Canton Network with +104%, Sky Protocol with +37%, Rain Protocol with +31.7%, and MemeCore with +4.4%. The rest are deeply in the red. Even with the resurgence this week, it wasn't enough to offset these accumulated losses.

The crypto market remains scared. Purchases are minimal, whales are selling, institutions are liquidating positions. So we have a somewhat contradictory situation: technically, the charts show signs of breakout and possible trend change, but performance numbers show traders are still in sell mode.

ETH is at $2.32K now, BTC at $77.71K. These levels will be important to confirm whether these technical signals really mean something or if it's just another false breakout. The descending wedge broke out, but the real confirmation depends on how the market behaves from now on.

If the bottom really happens as the signals suggest, it could be the start of something big. But for now, we need to see if the downside pressure will give way or continue to dominate. I'm monitoring closely.