TOTAL2 is approaching its 2021 peak, mirroring the pre-breakout pattern that preceded the explosive 2017 altcoin rally.
A third golden cross has formed in the altcoin market, historically a strong technical signal that precedes aggressive market expansions.
Altcoin market structure remains intact, supported by momentum and trend strength as investors await confirmation of a breakout above ATH.
Altcoin market conditions appear primed for a major shift, with technical structures closely mirroring those seen ahead of the explosive 2017 cycle. Current signals indicate a possible macro-level breakout as TOTAL2 nears its previous all-time high.
Historical Patterns Reemerge on TOTAL2 Chart
Market watchers are drawing comparisons between the current TOTAL2 structure and that of 2016–2017. The TOTAL2 chart, which tracks the total cryptocurrency market cap excluding Bitcoin, is forming a pattern nearly identical to the pre-2017 altcoin surge. According to crypto analyst @el_crypto_prof, the market seems to be repeating a familiar setup: a Wave 1 advance followed by an extended correction and consolidation.
https://twitter.com/el_crypto_prof/status/1953458086347182174
He noted that TOTAL2 is now pressing against its 2021 high, supported by a consistent uptrend. This resembles the 2016 rounded base structure, which preceded the vertical breakout of 2017’s altcoin season. If the chart plays out similarly, a second wave could be much larger in scale. The term “God Candle” has been used to describe the potential breakout, with projections suggesting valuations that may surpass previous cycle peaks.
Technical Indicators Reinforce Bullish Structure
Additional analysis from @Bitcoinsensus highlights a Golden Cross forming in the altcoin market. Historically, this technical signal—where shorter-term moving averages cross above longer-term ones—has preceded sharp rallies across the altcoin space. This marks the third such crossover, suggesting a continuation of upward momentum.
https://twitter.com/Bitcoinsensus/status/1952645306115350561
The alignment of moving averages and the preservation of market structure are seen as positive signs by technical analysts. Current price action shows that momentum is gradually building, a pattern consistent with the early stages of previous major altcoin rallies. The repeated occurrence of these signals adds to the growing expectation of a breakout.
Momentum Builds as Altcoins Challenge Resistance
The convergence of historical patterns and fresh technical signals is drawing attention to the altcoin market’s next possible phase. As TOTAL2 tests its 2021 high, the price movement is now watched closely for confirmation. A clear breakout could initiate a vertical acceleration, supported by the current macro setup.
Market participants seem to remain cautious while paying attention to the overlap between how markets behaved in the past and how they are behaving today. Whether the alt-coins will continue to increase in value will depend on whether the resistance has been broken decisively.
The post Altcoin Market Near Breakout as TOTAL2 Presses 2021 All-Time High appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.