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The crypto market has already bearishly broken the 0.382 Fib support at the 50-day EMA at around $1.139 trillion a few days ago. This is because the price is forming lower highs as well as lower lows, which puts the price in a parallel downward channel.
With this, the crypto market could correct to the 200-day EMA at around 1.096 trillion USD, or even to the Golden Ratio at around 1.076 trillion USD. Just below that, at around USD 1.057 trillion, there is also significant 0.382 Fib support.
The MACD lines are still bearish crossed in the daily chart, but the histogram of the MACD has been ticking bullish higher for several days. The RSI is neutral and the EMAs are still in a golden crossover, so the trend remains bullish in the short to medium term.
