About TOTAL3 INDEX
The TOTAL3 index represents the total market capitalization of altcoins (cryptocurrencies excluding Bitcoin and Ethereum) and is used on platforms like TradingView to analyze altcoin trends. Unlike TOTAL, which calculates the entire crypto market (including Bitcoin, Ethereum, and altcoins), TOTAL2 covers the market without Bitcoin (Ethereum and altcoins), and TOTAL3 focuses solely on altcoins. This index helps investors assess altcoin performance without the influence of Bitcoin and Ethereum. Analyzing TOTAL3 is key for identifying support and resistance levels and predicting altcoin growth. The difference lies in their focus: TOTAL for the whole market, TOTAL2 without Bitcoin, and TOTAL3 without Bitcoin and Ethereum.
TOTAL 3 Forecast by NEoWave(Update4)
Cash Data 1W
By analyzing the weekly Cash Data chart of TOTAL3, we observe that after a rapid and significant rise, a correction in TOTAL3 has begun, which appears to be forming a Neutral Triangle pattern.
Wave Analysis:
Wave-(c) is a double pattern with a small X-wave, making it the most complex wave. However, there is a possibility that wave-(d) could become more complex than wave-(c). We are currently in wave-(d). Given that wave-(b) has surpassed the start of wave-(a) and wave-(c) has been fully retraced by wave-(d), there is a likelihood that a Running Neutral Triangle is forming. For confirmation, wave-(d) must exceed the starting point of wave-(c).
Conclusion:
Based on the analysis, wave-(d) could rise to the range of 1.14–1.38 trillion USD. Subsequently, wave-(e) will begin and may conclude within the retracement zones identified on the chart. To accurately determine the target for wave-(e), we need wave-(d) to complete, allowing us to predict the end of the Running Neutral Triangle with greater precision.
After the completion of the Running Neutral Triangle, we expect a significant rally in altcoins.
Good luck
NEoWave Chart
