Widely followed analyst and trader Michaël van de Poppe believes crypto is on the verge of a big burst to the upside.
Van de Poppe tells his 721,600 followers on the social media platform X that the total crypto market cap chart (TOTAL) is gearing up to take out its last resistance level at $2.66 trillion.
The trader shares a chart suggesting that TOTAL is in a strong uptrend buoyed by bullish higher-low setups.
“The total market capitalization of crypto is showing a massive, bullish chart.
Within two-three months from now, we’re going to break through the all-time high and never come back again.
It’s going to be fun.”
At time of writing, TOTAL is hovering at $2.410 trillion.
Van de Poppe is also looking at the market cap of altcoins using the TOTAL3 chart, which tracks the overall valuation of crypto excluding Bitcoin (BTC), Ethereum (ETH) and stablecoins.
According to the trader, TOTAL3 is en route to shatter its crucial resistance area at around $800 billion.
“It was a harsh week for several altcoins, however, the altcoin market capitalization has seen a 4% correction.
The entire correction is over and this is just a build-up before the next big upward breakout above $800 billion takes place.”
At time of writing, TOTAL3 is trading at $641.572 billion.
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: DALLE3
