This chart shows the total crypto market cap without Bitcoin and Ethereum, using daily price movements.

TOTAL.3 (Excluding $BTC & $ETH )

What’s Happening:

  1. Downward Trend (Falling Channel):

    • The market was stuck in a downtrend, moving between two slanted white lines. This shows that for months, prices were generally falling, with small upward moves in between.

  2. Breakout (Big Change):

    • Recently, the market broke out of this downward channel, meaning prices pushed above the upper white line. This is a bullish sign, suggesting that the downward pressure is weakening, and prices might be ready to go higher.

  3. Altseason Signal:

    • The breakout is marked as a possible start of Altseason, a time when altcoins (all coins except Bitcoin) tend to rise quickly and outperform the broader market. This is often seen as a sign of a bigger rally coming.

  4. Key Support and Resistance Zones:

    • The shaded grey areas are important support and resistance levels.

      • The lower grey zone (480-520B) is where the market found strong support, meaning buyers stepped in, preventing the price from falling further.

      • The market has now moved above the upper grey zone (590-640B), which was previously resistance. This area might now act as support, giving prices a foundation to go higher.

What This Means:

  • The fact that the market broke out of the downtrend is a strong positive sign for altcoins.

  • If the breakout holds, it could lead to more price increases and potentially kick off Altseason.

  • However, if the price falls back into the channel, the downtrend might continue. For now, the signs are bullish, and it looks like the market is heading up.


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