Altcoin Market Shows Signs of Impending Breakout, Mirroring 2024 Fractal Pattern

The TOTAL3 chart, tracking crypto market capitalization excluding Bitcoin and Ethereum, has formed a technical structure nearly identical to the July-November 2024 breakout pattern. Key indicators including RSI basing, volatility compression, and Fibonacci retracement levels suggest a potential altcoin season launch in early August.

Analysts note the current setup mirrors the 2024 consolidation phase with precision—price hugging the 200 EMA, BBWP volatility contracting after expansion, and Fibonacci levels holding at critical support. The pattern suggests a repeat of the 2024 altseason surge that saw double-digit gains across mid-cap tokens.

July 9 emerged as a likely inflection point, with the breakout now appearing to gain momentum. Historical fractals indicate this rally could sustain for 33 days, potentially delivering alpha opportunities in altcoins against stagnant BTC dominance.