A popular crypto analyst is predicting good things for altcoins. Michaël van de Poppe, who has over 700,000 followers on X (formerly Twitter), says the “TOTAL3” chart is showing a strong signal that altcoins are about to surge.
What is TOTAL3?
TOTAL3 tracks the market value of all cryptocurrencies except Bitcoin, Ethereum, and stablecoins. Van de Poppe believes this chart is the “only one to watch” because it’s showing a “massive bullish divergence” against Bitcoin.
Bullish Divergence Explained
This means that while the price of altcoins has been going down, a technical indicator called the Relative Strength Index (RSI) is showing signs of strength. This suggests that the price of altcoins is likely to start going up soon.
September is a Good Time for Crypto
Van de Poppe also believes that the final weeks of August will be tough for the market, but things will turn around in September. Historically, September has been a good month for Bitcoin and other cryptocurrencies. He expects Bitcoin to slowly climb in price.
Bitcoin Holding Strong
Bitcoin is currently trading at around $57,000, down about 3% in the last 24 hours. However, Van de Poppe says Bitcoin needs to stay above $56,000 to remain in an uptrend.
Disclaimer
This is just one analyst’s opinion. Remember, investing in crypto is risky. Do your own research before making any decisions.
