Total 3: HTF Analysis

The HTF charts for Total 2 and Others were discussed earlier to get a better idea of ​​where the altcoins stand on the market right now. As explained, neither Total 2 nor Others have shown signs of a trend change so far, which is why I advise against entering new positions simply out of fear of missing out. This is also part of the reason why I took profits.

Looking at Total 3, we can see that it got rejected right at the diagonal trendline, which means that it has not been able to break the HTF downtrend. It has been making lower lows and lower highs since April, with 623B being the latest local high. Right now, my key LTF levels for Total 3 are 579B and 545B. Holding the 579B area and establishing it as a local bottom would be positive for the altcoin as it would suggest a possible change in trend. This would be the most bullish option at this point.

Going forward, my two triggers for the altcoin would be a pullback to the suggested area or a trendline flip. Ultimately, only if Total 3 breaks this downtrend will altcoins see significant movement. This of course also depends on BTC. If BTC manages to hold the range lows at 62K-60K, I think Total 3 lows will be higher. Lose the range lows and I think a lower low is likely, confirming the downtrend. If you zoom out on the chart, you'll see that the chart is very simple.