The crypto market is stirring on Tuesday. Some of the leading altcoins are breaking out. Is this yet another fake out, or could there be some solidity behind this latest surge?
Total2 moving through resistance
Source: TradingView
Total2 (the combined market cap of all cryptocurrencies except $BTC) is up over 46% since early April. While this is below Bitcoin’s rise of 47% over the same period, it has to be borne in mind that Total2 accounts for all boats. Probably a great many of them will not be lifted during this last stage of the bull market, but potentially enough will to at least match Bitcoin’s final stage gains.
$ETH bulls turn $2,500 into strong horizontal support
Source: TradingView
$ETH will very likely be one of the front runners in this respect. After an utterly miserable time for the bulls over the last more than 3 years, which saw $ETH constantly grind lower against $BTC, a turning point may have arrived.
The weekly ETH/USDT chart above shows that the bulls have managed to battle above the key $2,500 level, turning it into support. The next key resistance levels to take out are at $3,000, and then the last swing high at $4,100. The all-time high at $4,860 is not in the realm of fantasy now, and if the crypto market really takes off into the second half of 2025, who knows how far it could go.
Three key resistances stopping $SOL
Source: TradingView
The story for $SOL is all about getting through three key resistance levels at $176, $188, and $203. Climbing above the last of these and consolidating above would leave the path open to a new all-time high. However, it seems that whenever $SOL bulls develop a head of steam, another fat chunk of $SOL leaves Binance en route to Wintermute. Solana ETFs are awaiting approval. Could the price potentially be suppressed until then?
$BNB breaks through last major resistance
Source: TradingView
While the likes of $ETH and $SOL have had their struggles, $BNB has quietly just pierced through the last major resistance before the all-time high. If $673 is held above for the rest of this week, it will be flipped into support and the bulls can build the base for the next upward move of this bull market.
Weekly stochastic RSI indicator lines at overbought level
As with all the aforementioned major altcoins, the weekly Stochastic RSI indicators are at just about at the top, signalling an overbought situation. For the bull market to continue, some extended sideways price action may have to take place in order for the indicators to reset all the way back down, or potentially, to bump along the 80.00 level, as happened during the October 2023 to March 2024 rally.
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.
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