The Altcoin Market Nears a Big Breakout

The altcoin market, based on the TOTAL3 chart, is nearing a significant breakout. After a long period of consolidation, analysts indicate that this phase is almost over.

Looking at the TOTAL3 index, the current setup resembles the price action during the 2020/2021 bull run, hinting at another major rally ahead.

TOTAL3 tracks the market cap of cryptocurrencies, excluding Bitcoin and Ethereum, serving as a crucial indicator of market interest in altcoins.

Key Resistance Levels to Watch

Currently, at $845 billion, if the market cap successfully breaks above the $916 billion resistance and closes a day above $1.08 trillion, it could signal the start of a full-blown alt season. Conversely, a fall below $771 billion would indicate a bearish shift, but the market has maintained support.

A critical retest of the $916 billion mark is underway, and if altcoins break through with strong momentum, the total market cap could quickly jump toward $1 trillion and beyond.

Related: Whale Rush on XRP, ADA, ONDO Altcoins: Massive Crypto Summit-Fueled Buying Spree Signals Huge Market Expectation

RSI and Stoch RSI Signals Mixed

In terms of other technical indicators, the RSI in the 3-day chart is below 60, indicating bearish momentum. However, the trend line drawn over the peaks of the RSI shows that the downward momentum is slowing. The Stoch RSI is very low, near the bottom of its range, suggesting oversold conditions, often signaling that a reversal or bounce is imminent.

Traders Await Confirmation Signals

While the broader RSI trend is still bearish, a sustained rally requires breaking key resistance levels. Traders should watch for confirmation signals like a price breakout and a shift in RSI momentum.

Altcoins are currently in the limelight following Trump’s signing of the executive order creating the Strategic Bitcoin Reserve alongside a Crypto Asset Stockpile on March 7.

Related: Top Altcoins Traders are Watching Ahead of White House Crypto Summit: DOT, LINK, LTC, HBAR & More

As the market prepares for its next move, traders are closely monitoring TOTAL3. A strong close above $1.08 trillion would serve as clear confirmation that altcoins are entering price discovery mode—possibly igniting the biggest rally since 2021.

Disclaimer: The information presented in this article is for informational and educational purposes only. It does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.