A widely followed trader who nailed the crypto bull market top in 2022 believes the altcoin market is gearing up to spark an upside burst.<\/p>\n
Pseudonymous analyst Pentoshi tells his 843,900 followers on the social media platform X that he\u2019s keeping a close watch on the OTHERS chart, which tracks the market cap of all crypto excluding the 10 largest coins and stablecoins.<\/p>\n
According to Pentoshi, OTHERS is flashing<\/a> a bullish continuation signal as it threatens to take out its final resistance at around $500 billion.<\/p>\n \u201cSay what you will, but alts look great as a whole here.<\/em><\/p>\n Bull flag\/consolidation over the previous highs from last year.<\/em><\/p>\n Markup soon.\u201d\u00a0<\/em><\/p>\n Traders keep an eye on the OTHERS chart to get a broad sense of how the altcoin markets are likely to perform. Meanwhile, a bull flag typically indicates that an asset is taking a breather before igniting a fresh leg up.<\/p>\n At time of writing, OTHERS is trading at $362.22 billion.<\/p>\n Pentoshi is also closely watching the TOTAL chart, which tracks the market capitalization of all crypto assets excluding stablecoins. The trader predicts<\/a> that TOTAL could surge at least 18% from current levels but can print as high as 88% gains before the crypto bull market comes to a close.<\/p>\n A rising TOTAL chart indicates that Bitcoin (BTC<\/a>) and altcoins are surging in value.<\/p>\n \u201cGuessing we top at $4.2 trillion \u2013 $6.7 trillion currently. I will narrow it down more later. But the first target is $4.2ish trillion.\u201d<\/em><\/p>\n At time of writing, TOTAL is trading for $3.553 trillion.<\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>   Generated Image: Midjourney<\/span><\/em><\/p>\n<\/p><\/div>\n
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