Santa Rally for Altcoins on the cards

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TOTAL3, an indicator of altcoin market capitalisation excluding Bitcoin and Ethereum, has made a significant move🔔.

We've breached and closed above on a weekly timeframe some serious key levels. And are above the Bear Market high.

By surpassing and maintaining above the bear market high on a weekly timeframe.

While this doesn't mean we won't see a pullback in the near future, it does set up some nice space to move leading up to the BTC halving.

It also comes at a timely point in the macro landscape, with the US monetary policymakers this week agreeing that rates will be dropping in 2024. With 3 rate cuts planned at this stage.

These tailwinds, combined with Bitcoin potentially ranging, could see a swell of liquidity returning to the #altcoin markets.

🎅 #SantaRally?

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