- TOTAL3 confirmed a successful retest after breaking above resistance levels
- Analysts see growing momentum across mid-cap and small-cap altcoins
- Bitcoin dominance remains a major factor for sustained altcoin strength
The altcoin market is showing renewed strength after TOTAL3 successfully held a critical retest level, according to crypto analyst @el_crypto_prof. TOTAL3, which tracks the total crypto market capitalization excluding Bitcoin and Ethereum, recently confirmed a breakout structure on higher time frames. The analyst shared the update on May 6, highlighting growing bullish momentum across mid-cap and small-cap digital assets.
Altcoin Market Breakout Signals Growing Bullish Momentum
The latest chart shared by the analyst showed TOTAL3 completing a successful retest after breaking above a previous resistance level. In technical analysis, retests often help confirm whether buyers can maintain control following a breakout move. The current structure suggests the altcoin market may be entering another expansion phase.
The analyst commented, “Imagine being a bear here,” implying bearish traders could be trapped if prices continue moving higher. Market participants often interpret these setups as signs that downside momentum is weakening while buyers regain confidence.
TOTAL3 is widely followed because it removes Bitcoin and Ethereum from the broader crypto market picture. This allows traders to measure the strength of alternative cryptocurrencies more directly. Rising TOTAL3 levels generally indicate improving investor appetite for riskier altcoins outside the two largest digital assets.
TOTAL3 Retest Supports Broader Altcoin Market Recovery
The current breakout structure extends across multiple chart time frames, from daily views to long-term market cycles. Analysts believe this strengthens the reliability of the signal because longer-term breakout confirmations tend to carry more weight in crypto trading.
The altcoin market has spent much of the past year consolidating beneath major resistance zones. During that period, Bitcoin dominance remained elevated while capital stayed concentrated in larger assets. However, improving TOTAL3 performance suggests liquidity may now be rotating toward smaller cryptocurrencies.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
