- $TOTAL3 approaches its 2021 all-time high resistance after multiple bullish reactions from a long-term trendline that has held since 2023.
- June’s Stochastic RSI bullish cross matches historical setups that preceded strong altcoin rallies, with market momentum aligning for potential breakout conditions.
- Bitcoin dominance breakdown after multi-year uptrends signals possible capital rotation into altcoins, echoing market conditions that triggered past altseasons.
The $TOTAL3 market cap is now pressing against a major resistance that has defined the altcoin market since 2021. Traders are watching to see if this level sparks a breakout or another rejection.
Altcoin Market Reaches Critical Barrier
CrypFlow reports that the $TOTAL3 chart, which excludes Bitcoin and Ethereum from total crypto market capitalization, peaked around $1.13 trillion in 2021. That level became a long-term barrier after the market reversed and entered a sustained downtrend.
The Relative Strength Index (RSI) dipped below 50 and remained so at the time, indicating continuing weakness. The Stochastic RSI also was so low, indicating bearish momentum as well. Recovery only came when the RSI climbed back above 50 with the Stochastic RSI shifting into bullish territory.
Since 2023, a clear purple trendline has served as support. Each test of this trendline has been followed by upward moves, often coinciding with a bullish Stochastic RSI cross. This setup has appeared again in recent weeks as the market approaches its previous peak.
June Bullish Cross Mirrors Past Rallies
In June, the Stochastic RSI crossed into bullish territory from a low range, a move similar to those seen before prior market advances. This technical alignment occurred at the same time the price tested its long-standing trendline support.
Historical data from $TOTAL3 shows that these combined signals have often preceded notable price growth. Traders are now closely watching to see if a similar rally will follow or if the market will fail at resistance.
A breakout above the $1.13 trillion level would place the altcoin market into price discovery, removing prior chart ceilings. Failure to clear this resistance could see the market return to consolidation or retest lower supports.
Bitcoin Dominance Weakens as Capital Shifts
The altcoin setup is unfolding as Bitcoin dominance (BTC.D) shows a rare technical breakdown. CrypFlow notes BTC.D recently ended an RSI uptrend that had held for 1,500 days, while also breaking a price uptrend lasting about 1,000 days.
The last time both breakdowns occurred, capital rotated from Bitcoin into altcoins, fueling an altseason. This pattern suggests that weakening dominance could support a TOTAL3 breakout scenario.
Whether $TOTAL3 breaks into a new bull phase or faces another rejection may now depend on sustained capital inflows into the altcoin sector.
