- TOTAL3 is consolidating beneath a $1.1T–$1.2T resistance zone, forming an ascending triangle supported by a long-term bullish trendline.
- Altcoin market capitalization trades above all major EMAs, with the 20-week EMA at $964B acting as strong dynamic support.
- Confirmed September rate cuts combined with technical strength position TOTAL3 for a breakout, with potential upside toward $1.5T–$1.9T.
The altcoin market is nearing a decisive moment as TOTAL3, which tracks market capitalization excluding Bitcoin and Ethereum, consolidates under a long-standing resistance zone.
Critical Resistance and Market Structure
TOTAL3 is trading near the $1.1 trillion to $1.2 trillion resistance zone, which has capped several rallies in previous cycles. Each rejection at this level triggered corrections, making it a crucial ceiling for altcoins.
EllioTrades noted in a post that this setup indicates the market could be preparing for a breakout.The pattern of the chart is an ascending triangle with a flat resistance line and a strong rising support line from around mid-2022. This shows an uninterrupted cycle of higher lows, indicating ongoing accumulation in altcoins.
A confirmed move above $1.2 trillion would open the path to higher levels. Previous congestion areas between $1.5 trillion and $1.9 trillion are seen as potential targets in such a scenario.
Moving Averages and Market Position
TOTAL3 is currently positioned above all key exponential moving averages on the weekly chart. These include the 20, 50, 100, and 200-week EMAs, with each aligned in bullish order. The 20-week EMA, now near $964 billion, continues to act as dynamic support.
This technical alignment is often interpreted as a sign of sustained momentum. Maintaining price action above these levels suggests that the broader altcoin market remains in an upward structure. A failure to defend the 20-week EMA could expose the market to lower levels near $870 billion.
Volume remains a factor to watch closely. While current participation supports the trend, a volume surge on breakout would provide stronger confirmation of renewed demand.
Rate Cuts and Market Outlook
Market observers are also connecting macroeconomic shifts with the chart setup. Ash Crypto observed that the September rate cut is now confirmed, recalling how altcoins previously rallied for months following similar policy moves.
This convergence of technical strength and macro tailwinds is drawing investor attention. The tightening range between rising support and horizontal resistance has created a decisive setup for TOTAL3.
If buyers succeed in pushing above the $1.2 trillion level with strong volume, analysts suggest that the conditions could favor another major altcoin cycle. Until then, the market remains at a pivotal stage.
