main target 14.094T
sequential targets valid above 1.978T 2.318-2.75-3.998-6.017-8.036-14.094T DOLLAR
In the shared chart, there is an analysis representing the total cryptocurrency market volume. Let's examine this analysis in detail under the following headings:
1. Target and Prices
• Fibonacci extension levels on the chart mark critical target areas. Especially 2.618 (6.01T), 3.618 (8.03T) and 6.618 (14.09T) levels stand out as strong target levels, respectively.
• In the near term, the 3T and 4T zones appear to be the next resistance and target in the market. However, the general trend points to expansion towards higher market value.
2. Support and Resistance
• Support: The 1.786 level (around 2.318T) appears to be a major support point for the market. A drop below it could start a negative trend for the market.
• Resistance: Levels 2.618 (around 6T) and 3.618 (around 8T) are strong resistance areas. Current price level 2.127T may be looking for a breakout towards these resistance areas.
3. Indicators
• Colored trend bands (probably EMAs or MAs) on the chart support the market's upward movement.
• Volume: The volume indicator at the bottom is rising in parallel with the price increases. This indicates that the upward movement is supported.
4. Formations and Formation Reversals
• The chart represents a market structure progressing in an upward trend.
• The channel defined by trend lines indicates the possibility of a continued expansion in the market. If the trend is maintained, the upside potential is high.
5. Trend Direction
• The overall trend is clearly upward, indicating that the market is in an expansion phase.
• In line with Fibonacci extension targets, total market volume has the potential to reach higher peaks.
6. Strategy and Recommendation
• Short Term Strategy: As long as the market volume remains above the 2.318T support level, a positive trend can be maintained. A transaction can be opened from the support for short-term purchases.
• Long-Term Strategy: Positions towards the target areas of 6T and 8T can be evaluated. Resistance tests can be expected in these areas.
• Stop-Loss: The market situation may change below the 1.786 level, so be careful.
• Risk Management: Entry and exit strategies should be planned according to Fibonacci levels.
In conclusion, the chart shows that the overall market trend is quite positive. As long as support levels hold, there is a high probability of an upward expansion. However, macroeconomic factors and market sentiment should be monitored closely.