Ether, XRP, Solana, Cardano, BNB, DOGE, SHIB Facing Mega Bullish Test at $1.7 Trillion

Popular Dutch crypto analyst Michael van de Poppe has stated that altcoins, including Ether, XRP, Solana, Cardano, BNB, DOGE, and SHIB, are poised to break past the long-term resistance faced by their combined market capitalization, entering deeply bullish territory. The secondary crypto market experienced a price decline over the last 24 hours, raising concerns among traders about the future viability of a bullish scenario. However, van de Poppe and multiple other experienced analysts remained unfazed.

He tweeted:

“The fun on #Altcoins is about to begin.

The #Altcoin market capitalization aims to break through the crucial resistance.

That’s very bullish.”

He is the latest altcoin market cap graph:

According to this dynamic graph, the altcoin market, which is essentially the entire digital asset economy excluding BTC, is currently engaged in not just short-term price movements but a long-term battle to emerge from the downturn of the post-2021 bull market.

$1.7 Trillion Resistance is Key

As the graph clearly illustrates, the secondary crypto market reached its peak at around a $1.7 trillion valuation in 2021. We are now nearing the same levels again in 2025. If a definitive altcoin season is to occur this time around, the total market cap needs to break the shackles of this key resistance level and form a new trend for this market. Once this key resistance is upended, a major market activity is anticipated that will make the last quarter of this calendar year exciting.

Otherwise, the altseason is likely to be postponed even further, eroding the confidence of investors who have bet heavily on the revival of the storied “altseason”. Van de Poppe is making a clear case for a revival of the altseason and is pipping the alts to overcome this crucial hurdle soon.

Ethereum’s Performance in the Spotlight

One of the reasons why the alt season has yet to take off is the largely lacklustre performance of Ethereum. The second-largest cryptocurrency by market capitalization was a major success story during the 2017 and 2021 bull markets, but has failed to make a decisive mark on the proceedings this time around.

Other contenders are looking to take the place of ETH, including Binance Coin (BNB), which has surpassed a $1,000 valuation for the first time in its history and shows no signs of stopping, or Solana (SOL), the most programmable blockchain on the planet. If ETH doesn’t take the lead here, it would be a major embarrassment for the second-ranked crypto, making things much easier for a challenger.