🌍 The presented chart shows the weekly dynamics of the total market capitalization of the cryptocurrency market (TOTAL), which currently amounts to 3.36 trillion dollars with a gain of +5.15% over the week. Let's consider key levels, trends, and development scenarios.
1. General Trends
The chart demonstrates a sustained upward trend with a key support line that starts from the minimum of 2020. This upward trend indicates a steady market recovery after bearish phases.
🔹 Support: The upward trend line serves as a strong level that the market has tested multiple times.
🔹 Resistance: The level around 3.4 trillion dollars acts as a key resistance zone from which the market may begin a correction.
2. Technical Indicators
The chart contains the following important elements:
Consolidation zones (green block): A strong resistance zone marked within the range of 3.2–3.4 trillion dollars, which previously acted as support.
Ichimoku Cloud: The cloud (green/red) continues to serve as an indicator of the overall trend. A breakout above the cloud confirms the continuation of the bullish trend. 🌥️
Volume: The upward trend is confirmed by impulse candles, which are characteristic of a bullish market.
3. Key Levels
Support:
The trend line at around ~2.7 trillion dollars.
Local minima around 3 trillion dollars.
Resistance:
The zone of 3.4–3.6 trillion dollars, which will be critical for further growth. Breaking through this zone could lead the market to historical highs around 4 trillion dollars. 🚀
4. Development Scenarios
Bullish scenario:
If the market holds above the trend line and breaks the resistance zone of 3.4 trillion dollars, this will open the way for movement towards 4 trillion dollars and above. Positive macroeconomic factors or the launch of new infrastructure solutions in the crypto ecosystem could be the main driver. 🌟
Bearish scenario:
In the event of a loss of support at the level of 3 trillion dollars, a decline to the next strong zone at the level of 2.7 trillion dollars may occur, leading to a short-term market consolidation.
5. Conclusion
The cryptocurrency market demonstrates confident growth and is preparing to test key resistance levels. The coming weeks will be crucial for determining the further direction of movement. It is recommended to monitor trading volumes and the market's reactions to macroeconomic events. ⚡
✅ Recommendation for investors:
Hold current positions, closely monitor the market's reaction to the 3.4 trillion dollar zone. For traders, short-term trades may be possible as the levels of resistance and support are approached.
🌐 The market remains promising but requires caution!