As Bitcoin ($BTC) stalls at the $100,000 crossroads, certain altcoins are at the brink of breakouts. $BNB, $NEAR, and $FTM are at this juncture. Will they now break higher?

Total3 heading to all-time high

Source: TradingView

Total3 is the chart for the combined market cap of all cryptocurrencies except $BTC and $ETH. So it’s a good chart for tracking how the altcoins are progressing. It can be seen that the bull flag broke to the upside, and the descending trendline has been broken. 

So far so good. If Total3 can now get above the all-time high of $1.13 trillion, it could be said that the final, and the most dramatic stage of the bull market would be well upon us.

$BNB at the edge of breaking out of a 4-year range

Source: TradingView

$BNB (BNB/USD) has been traversing inside a very large trading range since early 2021. Following the end of the 2021 bull market, the price drifted downwards and bumped along the bottom of the range at around $200. 

Later in 2023, the price started to climb higher, and has now been knocking at the door of the top of the range at around $660. After such a long period of sideways consolidation it might be expected that $BNB will now break through the top of the range and go into price discovery.

The targets for the rest of this bull market are based on the Fibonacci extension levels, and can be taken from the chart above.

$NEAR at descending trendline once again

Source: TradingView

$NEAR is very near to breaking out. Puns aside, this really does look to be the case. A descending trendline that stretches all the way back to the beginning of 2022 is currently acting as resistance once again. However, with the price now holding above the 0.236 Fibonacci, a breakout may not be far away.

If the breakout takes place, the first target will be to get above the next Fibonacci level at $8.53, but more importantly, the $NEAR bulls will need

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Author: Laurie Dunn