- TOTAL3 is breaking out from a falling wedge pattern.
- RSI indicates growing bullish momentum.
- March 2024 highs have been re-tested, signaling strength.
TOTAL3 Nears a Major Reversal
The Altcoin Market , represented by TOTAL3 (the total market cap of altcoins excluding Bitcoin and Ethereum ), is showing strong signs of a bullish reversal. After a prolonged downtrend, TOTAL3 has reached the end of a falling wedge pattern—a classic technical indicator that often precedes breakouts to the upside.
At the same time, the Relative Strength Index (RSI) is on the verge of breaking out, indicating that momentum is shifting in favor of buyers. This suggests that selling pressure is weakening, paving the way for a potential trend reversal.
Key Retest of March 2024 Highs
One of the most critical signals in the current market structure is the re-test of March 2024 highs. This level acted as strong resistance in the past, but TOTAL3’s ability to hold above it suggests that altcoins are building strength for a sustained move upward.
Historically, when markets successfully retest key resistance levels and turn them into support, it often leads to significant upward momentum. If TOTAL3 follows this pattern, we could see a surge in altcoin prices in the coming weeks.
What This Means for Altcoins
The combination of a falling wedge breakout, rising RSI, and a successful re-test of March highs creates a strong bullish case for altcoins. This suggests that the current market cycle is not over and that altcoins could be preparing for new highs.
Traders and investors should watch for confirmation of the breakout, as well as volume trends that support further price increases. If TOTAL3 continues to gain strength, the broader altcoin market may enter a renewed phase of growth.
