$SUI

Altcoins expect a "phenomenal" rebound to $2.78 trillion

In the latest altcoin analysis, trader Jelle highlights a breakout from a highly bullish cup and handle continuation pattern forming on the weekly TOTAL3/USD price chart.

TOTAL3 refers to the combined market capitalization of all cryptocurrencies excluding Bitcoin

BTC

$118,899

and Ether

ETH

$3,614

.

Related: Ripple is more than the 'XRP Army': why the altcoin is a good investment

A breakout above the neckline of the pattern at $1.1 trillion could propel TOTAL3 approximately 100% to $1.98 trillion.

"Altcoins have overcome the multi-year crisis!" the trader said in a Thursday post on X, adding:

"There is one last hurdle to overcome, but once we surpass $1.1 trillion, everything will go wild."