Crypto Total Market Cap, $Updated Crypto Total Market Cap Consolidation: Imminent Breakout Ahead?
Key Observations:
1. Symmetrical Triangle Pattern:
The price is consolidating inside a symmetrical triangle, with lower highs and higher lows.
A breakout in either direction is imminent.
2. Exponential Moving Average (EMA 200):
The 200-period EMA is at 3.26T, currently acting as resistance.
A breakout above this level could indicate a bullish trend continuation.
3. Relative Strength Index (RSI 14):
Current RSI: 49.34, slightly below the neutral 50 level.
This suggests neutral momentum, with no clear overbought/oversold signals.
A move above 55-60 could indicate increasing bullish momentum.
Potential Scenarios:
1. Bullish Breakout:
If TOTAL breaks above the triangle resistance and EMA 200, the next targets could be 3.3T - 3.5T.
Confirmation requires high volume and RSI above 55.
2. Bearish Breakdown:
A break below the triangle support could push TOTAL toward 3.0T or lower.
RSI dropping below 40 would confirm bearish momentum.
Conclusion:
The market is in a consolidation phase, awaiting a breakout. Watch for volume confirmation and EMA 200 reaction to determine the next move.
1. Symmetrical Triangle Pattern:
The price is consolidating inside a symmetrical triangle, with lower highs and higher lows.
A breakout in either direction is imminent.
2. Exponential Moving Average (EMA 200):
The 200-period EMA is at 3.26T, currently acting as resistance.
A breakout above this level could indicate a bullish trend continuation.
3. Relative Strength Index (RSI 14):
Current RSI: 49.34, slightly below the neutral 50 level.
This suggests neutral momentum, with no clear overbought/oversold signals.
A move above 55-60 could indicate increasing bullish momentum.
Potential Scenarios:
1. Bullish Breakout:
If TOTAL breaks above the triangle resistance and EMA 200, the next targets could be 3.3T - 3.5T.
Confirmation requires high volume and RSI above 55.
2. Bearish Breakdown:
A break below the triangle support could push TOTAL toward 3.0T or lower.
RSI dropping below 40 would confirm bearish momentum.
Conclusion:
The market is in a consolidation phase, awaiting a breakout. Watch for volume confirmation and EMA 200 reaction to determine the next move.
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Disclaimer
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JOIN MY TELEGRAM CHANNEL
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JOIN MY RECOMMENTED BROKER REFFREL LINK
⤵️one.exnesstrack.net/a/uvd1etcgg1
PARTNER CODE⤵️
uvd1etcgg1
t.me/StellarMarketAnalysis
JOIN MY RECOMMENTED BROKER REFFREL LINK
⤵️one.exnesstrack.net/a/uvd1etcgg1
PARTNER CODE⤵️
uvd1etcgg1
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.