As the market cycle unfolds, altcoins are trading around key support levels, setting the stage for their next significant move. In today’s update, we’ll examine broader market trends to identify potential shifts in momentum.

Additionally, we’ll analyze key macroeconomic factors to offer a well-rounded outlook on what’s next for altcoins.

Here’s what we’ll cover today:

Let’s dive in!

In order to assess the current situation around the altcoin market as a whole, we like to use the main index charts TOTAL3 (Crypto Total Market Cap Excluding BTC and ETH) and OTHERS (Crypto Total Market Cap Excluding the Top 10) to gain a clear view of the broader market. Individual assets can easily deviate due to unique catalysts and shifts, making it difficult to objectively assess overall market strength. By focusing on these indexes, we not only monitor the sector as a whole but also identify major trend shifts affecting all assets early.

After slowly climbing back up over the past week, both TOTAL3 and OTHERS faced rejection at key resistance levels and sold off over the weekend. This coincided with Bitcoin getting rejected at $88,000 and dropping sharply on Friday. Notably, this selloff confirmed a lower high within a larger bearish trend structure for both indexes, which now appear to be setting up for their next move lower.