TOTAL3 represents the total market capitalization of all cryptocurrencies (i.e., altcoins) excluding Bitcoin (BTC) and Ethereum (ETH). This metric can roughly indicate the direction of altcoins, and from what I see currently, it is likely that we will soon welcome the altcoin season that everyone is looking forward to.
So, there are 3 perspectives on the altcoin season that we should pay attention to:
1. Direct breakout, then a surge towards 950B
2. A pullback to the lower support level, 4h ascending trend line, then a rally
3. A deep pullback, 1D ascending trend line, support at previous lows
In summary, I believe the third scenario will not occur. Personally, I am more optimistic about a pullback followed by a direct start to the altcoin season. I don't know why, just a gut feeling 🤭#山寨季
So, there are 3 perspectives on the altcoin season that we should pay attention to:
1. Direct breakout, then a surge towards 950B
2. A pullback to the lower support level, 4h ascending trend line, then a rally
3. A deep pullback, 1D ascending trend line, support at previous lows
In summary, I believe the third scenario will not occur. Personally, I am more optimistic about a pullback followed by a direct start to the altcoin season. I don't know why, just a gut feeling 🤭#山寨季
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
BTC
90,490.82
-1.90%
ETH
3,253
-1.39%