💥💥Will Altcoins Rise? Have the Bottom Buyers Arrived? 💥💥
It represents the total market cap of Bitcoin, Ethereum, and all other cryptocurrencies excluding stablecoins and does not take into account the influence of major cryptocurrencies when evaluating the performance of altcoins. This metric more accurately reflects market trends and the growth potential of altcoins and helps investors make more informed decisions.
Considering the pricing since June 2022, a clear channel structure stands out. After the downward movement in the last few days, an attempt was made to the lower base of the channel and a strong purchase was made to re-enter the range of $ 573.9-609.4 billion.
The $573 billion band is a support zone that has been tried 5 times since March 2024. Therefore, a weekly close at least above this level could reduce the selling pressure. If the level is above 609.4 billion dollars and support can be provided through closings, it may be possible to move towards the level of 709 billion dollars in a short time. After that, we can start discussing higher levels.
Although Total3 is an important metric in market analysis, it is important to remember that many factors such as trends, various indicators, onchain data, newly added spot ETF data and fundamental news have a significant impact on the market. Therefore, it is important to follow a gradual strategy when trading altcoins.
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