Recent data suggests that the altcoin market could be gearing up for a recovery in March. The percentage of altcoins trading above their 200-day simple moving average (SMA) has improved, with only around 5% currently above this level.
This ratio typically stays below 15% for a maximum of five months before rebounding, which raises expectations of a potential demand boost. Investors may view most altcoins as having fallen to attractive price levels, leading to increased buying pressure.