Total Crypto Market Cap (TOTALCAP) and #bitcoin (BTC) both formed long-term bullish engulfing candlestick patterns. #Conflux (CFX) hit a new all-time high.

In the headlines, former Coinbase CTO Balaji Srinivasan wagered $2 million against social democrat James Medlock on the price of Bitcoin reaching $1 million in 90 days.

TOTALCAP (Crypto Market Cap) Looks For Support

This week, the Crypto Market Cap (TOTALCAP) formed a #Bullish engulfing candlestick, strongly breaking above the $1.04 trillion horizontal region, which is now projected to provide support.

It is worth noting, however, that the price has not risen above it since the August 2022 highs (red line). If it does, it may rise to the next barrier level of $1.30 trillion. The RSI, which has risen above 50, backs this up.

If the trend reverses, the price might fall back to around $1.04 trillion.

Bitcoin (BTC) Retains Ground

Last week, the Bitcoin price formed a bullish engulfing candlestick. This validated the break and retest of a long-term declining resistance line. Also, the RSI rose above 50.

If the Bitcoin price rises, it may reach the next barrier level at $30,500. The RSI movement and the continued breakout support this possibility. If the surge loses steam, #BTC might go back to the $23,000 support level.

Conflux (CFX) Hits A New Year's High

Since the beginning of the year, the CFX price has risen. Following a decline that began on February 21, the price recovered and achieved a new yearly high of $0.488 on March 19.

The daily RSI, on the other hand, has generated strong negative divergence, which could lead to a bearish reversal. If this happens, the CFX price could drop to $0.150.

If the rally continues, the #CFX price might reach the next Fib resistance level around $0.515.

Top Losers in the Crypto Market: FLOW, Solana, Linear, and Conflux

The crypto market experienced a significant downturn this week, with several cryptocurrencies witnessing substantial price declines. In this detailed report, we analyze the top losers in the crypto market— $FLOW #Solana Linear, and #Conflux

We delve into the factors contributing to their price setbacks, examine technical indicators, and provide insights for investors and traders.

#FLOW (FLOW): FLOW, the top price loser, faced a steep decline of approximately 45% last week. The token has been in a prolonged and significant downtrend, lacking clear support levels. The potential for a further decline towards zero remains significant. Notably, the histogram of the Moving Average Convergence Divergence (MACD) has consistently declined in a bearish manner for several weeks, indicating a strong downward trend. Additionally, the MACD lines are on the verge of a bearish crossover. However, there is a glimmer of hope as the Relative Strength Index (RSI) could potentially demonstrate a bullish divergence, suggesting the possibility of an upward movement.

Solana (SOL): Solana, the second-largest loser, experienced a substantial decline of around 42% in its price last week. The token retraced back to the golden ratio support level at approximately $15. If this support level fails to hold, the next significant support for Solana can be found within the range of approximately $8 to $11. Similar to FLOW, the MACD histogram has been consistently declining in a bearish manner over the past few weeks, indicating a strong downward trend. The MACD lines are also on the verge of a bearish crossover. The RSI does not provide clear bullish or bearish signals. Notable Fibonacci resistance is already present at around $16.4.

Linear (LINA): Linear ( #LINA ) experienced the third-largest price decline, suffering a drop of approximately 42%. However, there has been a subsequent recovery as the price reached the 50-week Exponential Moving Average (EMA), acting as a resistance level. On the weekly chart, the MACD lines remain crossed in a bullish manner, although the MACD histogram has been declining bearishly since last week. LINA is approaching the next significant Fibonacci resistance level at around $0.024, which it could reach if the price breaks above the 50-week EMA at approximately $0.0133.

Conflux (CFX): Conflux (CFX) witnessed a decline of approximately 38% last week, with the price currently resting on the golden ratio support level at around $0.19. If this support level fails to hold, there is a risk of a significant price plunge. The weekly chart shows a bearish crossover in the MACD lines, and the MACD histogram has been declining in a bearish manner for several weeks, indicating prevailing bearish sentiment. Investors should closely monitor these technical indicators for potential market shifts.

Conclusion: The recent downturn in the crypto market impacted several prominent cryptocurrencies, including FLOW, Solana, Linear, and Conflux. The analysis of technical indicators, such as MACD histograms, MACD crossovers, Fibonacci levels, and the RSI, provides insights into the market sentiment for these tokens. Investors and traders should exercise caution and consider these factors when making investment decisions in the cryptocurrency market.

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