As the market cycle unfolds, altcoins are trading at critical levels that, if lost, could trigger deep declines. In today’s update, we’ll take a closer look at the broader market landscape to assess whether momentum is shifting and what that could mean for the days ahead.

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!

Bitcoin just managed to break above $92,000, a crucial resistance level that previously served as support and marked the range lows of our earlier trading range near all-time highs. This is not only a significant reclaim but also a market structure shift, potentially invalidating the long ongoing bearish trend. We’ve pointed out this scenario multiple times in the past, and it has now played out with remarkable precision.

Both TOTAL3 and OTHERS managed to push higher over the past few days as well, but neither has broken above a previous lower high to potentially invalidate the ongoing downtrend. TOTAL3 reclaimed crucial support at $780B exactly as we explained last week, while OTHERS continued higher and is currently sitting just below the key level of $240B.

Bullish Scenario: In a bullish case, we’d want to see both indexes continue higher, with TOTAL3 targeting the next key level at $850B, a crucial level to reclaim in order to form a higher high and break the downtrend structure. OTHERS would need to reclaim $240B and, to shift market structure, break above $250B as well. This would likely go hand in hand with both Bitcoin and traditional markets finding some relief and lead to altcoins reacting positively across the board.

Bearish Scenario: In a bearish case, we’d expect both indexes to face rejection, with TOTAL3 selling off either immediately or after retesting $840B, and OTHERS likely rejecting around the current key level of $240B. This would be followed by a bearish continuation, with TOTAL3 likely targeting support at $780B again and OTHERS heading back toward $190B.