Altseason Incoming? Breakout Levels for Major Altcoin Rally — Analyst
The altcoin market, based on the TOTAL3 chart, is nearing a big breakout. After a long period of consolidation, analysts say this phase is almost over.
Looking at the TOTAL3 index, the current setup looks a lot like the price action during the 2020/2021 bull run. This suggests another major rally could be about to happen.
TOTAL3 tracks the market cap of cryptocurrencies, excluding Bitcoin and Ethereum, and serves as a crucial indicator to gauge the market’s interest in altcoins.
#Altcoins
— 𝕄𝕠𝕦𝕤𝕥𝕒𝕔ⓗ𝕖 🧲 (@el_crypto_prof) March 7, 2025
The consolidation phase for TOTAL3 should soon come to an end.
Another leg up is imminent.
2020/2021 is a perfect example. pic.twitter.com/MT24dTf3Af
Key Resistance Levels to Watch
Currently, at $845 billion and If it 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.
On the other hand, a fall below $771 billion would indicate a bearish shift, but so far, the market has successfully held support.
A critical retest of the $916 billion mark is happening now and if altcoins were to break through this level, with a 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, which indicates a 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. This often signals that a reversal or a 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.
That said, altcoins are 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
Leading up to the summit, a large number of crypto whales are getting ready for market moves coming up.
As the market prepares for its next move, traders are closely watching TOTAL3. A strong close above $1.08 trillion would serve as a clear confirmation that altcoins are entering price discovery mode—possibly setting off the biggest rally since 2021.
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