Total3 breaks major resistance, signals potential altcoin season

Summary

Total3 has broken out of a significant resistance level, suggesting the potential for an uptrend in the altcoin market. Recent indicators show improvements in altcoin metrics, with Total3 recently reaching a high not seen for several months, signaling stronger aggregate capitalization. However, while this breakout is a positive sign, it does not independently confirm an altcoin season, as broader outperformance compared to Bitcoin is also necessary for validation.

Analysis

Total3: Total3 is a crypto-market capitalization index tracking all cryptocurrencies except Bitcoin and Ethereum. Recent market coverage describes the index as having broken above a prolonged downward trendline and recovering above a major resistance area, which is why the news frames the move as potentially supportive for altcoins and meme coins. Index trend: Recent market reports describe Total3 as having reclaimed a significant resistance level and reaching a high not seen for several months, indicating stronger aggregate altcoin capitalization. Altcoin season: A Total3 breakout can signal improving altcoin market conditions, but it does not by itself confirm an altcoin season because confirmation also requires broad outperformance versus Bitcoin. Market breadth: Recent altcoin indicators have improved, but major altcoin-season measures remained below the threshold commonly used to confirm a broad rotation away from Bitcoin.

Categories

cryptodefi

Related sources

View Original Tweet