Altcoin analysts predict that total market value (TOTAL2) could soon surpass its all-time high from 2021, with a "God Candle" formation possibly imminent for altcoins.
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The first week of August has seen a resurgence of bullish sentiment in the crypto market, with analysts predicting a significant breakout for altcoins and new all-time high (ATH) prices for leading cryptocurrencies like Ethereum (ETH) and Bitcoin (BTC).
While Ethereum (ETH) has yet to reclaim its previous ATH price or set a new ATH price for this bull cycle, expectations for ETH to set new ATH prices range between $8,000 - $20,000, if not higher. This bullish sentiment is bolstered by the accumulation of ETH by whales at a rapid pace, with a mysterious whale or institution buying $122,955,634 ETH in the past 2 days.
The analysts' analysis of TOTAL2—a market cap index excluding Bitcoin that reflects altcoin breadth—indicates strong bullish momentum, signaling a potential breakout and a forthcoming altseason driven by increased risk appetite in altcoins. If TOTAL2 breaks resistance convincingly, it could exceed the previous ATH zone near $1.75–$1.8 trillion, potentially leading to a new all-time high (ATH).
The current analysis for TOTAL2, as highlighted by Trader Tardigrade’s signal (August 9, 2025), suggests that the 3-day chart of TOTAL2 shows conditions that usually precede an altseason breakout, including sustained range-high closes and expanding volumes. The concept of a "TOTAL2 Banana Zone" has been introduced to describe the current phase where altcoin momentum is accelerating broadly across the market, not just isolated tokens, supported by rising breadth and positive funding rates.
Technical indicators show TOTAL2 maintaining price action above long-term moving averages (50-, 100-, and 200-week MAs) with a bullish market structure intact. This strengthens the case for a breakout, but if TOTAL2 fails to break resistance convincingly, a pullback toward support at about $1.4 trillion (near its 50-week MA) could occur.
Market analysts recommend disciplined position sizing and stop losses as volatility is expected, suggesting that while the “God Candle” breakout (a very strong bullish candle signaling explosive upside) is anticipated, risk management is critical given potential retracements. Despite some altcoin volatility recently tied to Bitcoin movements and macro factors, the overall technical picture implies that an altcoin rally driven by strong TOTAL2 momentum remains likely.
Meanwhile, both Bitcoin (BTC) and Ethereum (ETH) are showing strong bullish signs, indicating a potential for hitting new ATH prices. However, the current analysis suggests that Ethereum (ETH) has a greater potential to pump compared to Bitcoin (BTC) at the moment, outperforming Bitcoin (BTC) in the current bull cycle and showcasing its resilience and potential.
In summary, experts expect TOTAL2 to break out above key resistance levels soon, potentially triggering a significant altcoin rally and setting a new ATH if the bullish momentum sustains. This is interpreted as a "God Candle" scenario for the altcoin market, but caution is advised for managing volatility during the move.
Cryptocurrency technology is driving the current bullish sentiment in the market, with analysts predicting a significant breakout for altcoins and new all-time high prices for leading cryptocurrencies like Ethereum and Bitcoin. The accumulation of Ethereum by whales at a rapid pace is bolstering this bullish sentiment, as it suggests strong investor confidence in the cryptocurrency. The technical indicators for TOTAL2, which reflects altcoin breadth, show a strengthening case for a breakout, potentially leading to a new all-time high for the index and a subsequent altcoin rally driven by strong TOTAL2 momentum.
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