Up or down? The range is tightening.
During the 2022 downtrend, the bearish pennant briefly resolved to the upside, with price breaking above the pattern. This breakout, however, was short lived, and the overall mcap subsequently collapsed afterwards.
From a fundamental standpoint, I don’t see strong parallels to the current environment. Technically, however, a bearish pennant is once again forming within the ongoing downtrend. The price action range continues to compress, signaling that a significant move is likely imminent.
On the other hand, many altcoin setups have formed clean falling we