Michael van de Poppe, a renowned analyst and trader, believes cryptocurrencies are on the verge of a major rally.
Van de Poppe told his 721,600 followers on social media platform X that the entire cryptocurrency market cap chart (TOTAL) is poised to break through the last resistance level of $2.66 trillion.
The trader shares a chart suggesting that TOTAL is in a strong uptrend, supported by strong highs and lows.
“The total market cap of cryptocurrencies is showing an incredibly bullish chart.
In two to three months from now, we will hit all-time highs and never come back.
It’ll be fun.”
At the time of writing, TOTAL stood at $2.41 trillion.
Van de Poppe also uses the TOTAL3 chart to look at the market cap of altcoins, which tracks the overall value of cryptocurrencies excluding Bitcoin (BTC), Ethereum (ETH), and stablecoins.
According to the trader, TOTAL3 is expected to break the critical resistance level of around $800 billion.
“This has been a tough week for many altcoins, with altcoin market cap down 4%.
The entire correction is over and this is just a preparatory phase before the next major upside breakout above $800 billion.”
At the time of writing, TOTAL3’s trading price was $641.572 billion.
Don’t miss out – subscribe to receive email notifications straight to your inbox
Price check task
Follow us XFacebook and Telegram
Surfing the Daily Hodl Mix
 
Disclaimer: The opinions expressed on The Daily Hodl are not investment advice. Investors should do their own due diligence before making any high-risk investment in Bitcoin, cryptocurrencies or digital assets. Your transfers and transactions are your responsibility and any losses you may incur are your responsibility. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets and The Daily Hodl is not an investment advisor. The Daily Hodl participates in affiliate marketing.
Generated image: DALLE3