Altcoins Test 2-Year Downtrend Breakout as Market Cap Jumps 10% This Week

Altcoin market cap, excluding the 10 largest cryptocurrencies, rose about 10% this week. The TradingView OTHERS chart reached roughly $219.8 billion while testing a two-year downtrend.

The breakout attempt came as Bitcoin recovered above $80,000 on Sept. 19. BTC rebounded despite higher U.S. and Japanese rates and a Senate setback for the CLARITY Act.

Altcoin Market Cap Tests Two-Year Downtrend Breakout

The weekly OTHERS chart shows the altcoin market cap climbing from roughly $199 billion to $219.8 billion, a gain of about 10.4%. Price also moved through the descending line drawn from the 2024 peak near $451.3 billion.

That trendline rejected several recovery attempts during 2025 and the first half of 2026, keeping the broader altcoin market below a long-running ceiling.

The same chart identifies a broad support zone between $160 billion and $190 billion. Market cap repeatedly held that area during the past 1,000 days, including several tests through 2025 and 2026. The latest move now shifts attention to the weekly close.

Ash Crypto said a close above the trendline would keep the breakout attempt active, while a failed move could send the index back toward that support range. That level now serves as the nearest reference.

Altseason: Macro Pressure Fails to Stop Weekly Rebound

The altcoin breakout attempt follows a volatile week across global markets. The U.S. Senate failed to advance the CLARITY Act on Sept. 15 after the bill fell short of the 60 votes required to move forward.

The Federal Reserve then raised its target rate by 25 basis points to 3.75%–4.00% on September 16. The Bank of Japan followed on September 18 with a 25-basis-point increase to 1.25%.

The U.S. dollar also traded above 100 on the dollar index during the week, while oil stayed above $100 per barrel. The dollar index was at 100.23 on Sept. 17, near a seven-week high. Brent crude closed at $104.82 on the same day.

Even with those conditions, Bitcoin recovered after its midweek decline, while the OTHERS index posted its strongest weekly breakout attempt of 2026.

Cycle Charts Put Current Breakout in a Wider Structure

A separate two-week chart from Moustache compares the current altcoin structure with earlier market cycles. The chart tracks the crypto market cap excluding the top 10 assets and divides prior cycles into accumulation, breakout, expansion, and peak phases.

The analyst marks similar descending structures before the 2016 and 2020 advances, then places the 2026 market near another proposed Phase 2 breakout.

The chart shows a historical comparison based on previous market-cap structures. Its projected path places a later expansion phase into 2026 and 2027, but that section represents the analyst’s model rather than recorded market data.

Momentum indicators also turned higher on the weekly OTHERS chart. The MACD histogram moved into positive territory, while the MACD line crossed above the signal line. Price also holds above the red long-term moving average near $200 billion.

Those readings show stronger weekly momentum, though the descending trendline still makes the current close an important technical level.

The market has not returned to its previous high. OTHERS still trade well below the roughly $451 billion peak shown on the chart. For now, the main technical test centers on whether altcoins can keep the weekly market cap above the broken trendline and avoid a move back into the support zone.

This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency investments involve risk, and past performance does not guarantee future results. Readers should conduct their own research before making investment decisions.