Altcoins Surge: Breaking Out Now - Latest Crypto Market Trends

A new US presidency is rolling back all previous anti-crypto measures. Bitcoin is soaring past $105,000, and altcoins are beginning to gain momentum. Could this be the start of the final parabolic phase for cryptocurrency?

Is Total3 on the verge of a breakout?

Source: TradingView

Total3 represents the total market capitalization of all cryptocurrencies, excluding $BTC and $ETH. This chart serves as an excellent indicator of altcoin movements. Observing the chart, it seems the overall market cap is on the brink of a breakout. 

The recent move has surpassed the 0.786 Fibonacci level, with the price stabilizing above it and the wedge that began forming in early December 2024. For Total3 to enter price discovery, it needs to break out of the pennant and then confirm above the $1.13 trillion resistance.

US Dollar faces resistance from a 40-year downtrend line

Source: TradingView

The Dollar Index (DXY) chart suggests the opposite of a bullish scenario for crypto. A strong dollar often poses challenges for cryptocurrencies, and the reverse is also true. When Donald Trump became president, he expressed a desire for lower interest rates and a weaker dollar. 

The chart indicates a rejection of the DXY from a 40-year descending trendline. This, combined with strong horizontal resistance, creates a formidable barrier. As the dollar continues to decline in the Trump era, the crypto market is likely to thrive.

Solana ($SOL) leads altcoins into price discovery

Source: TradingView

Among major altcoins, Solana (SOL) is at the forefront, leading the charge into what may be the final thrilling stage of the bull run. Currently, it's holding above a significant resistance level at $252. Bulls are eager to see the price remain above this threshold by week's end.

If Solana maintains this momentum, with the Stochastic RSI at the chart's bottom indicating strong upward pressure, price discovery is on the horizon. A target to watch is the 1.618 Fibonacci level at $416, though even higher prices are well within reach.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.