The market capitalization currently displays a descending triangle pattern, indicating a potential continuation of the downward trend. However, it's worth noting that the market cap finds support above the horizontal and the 100-day Moving Average (MA), suggesting a possible reversal or consolidation at these levels.
A bounce from the current support levels and a subsequent #breakout above the triangle's upper trendline would confirm a #Bullish rally, generating renewed investor interest and optimism. This could lead to a significant upward movement in market capitalization.
Conversely, a sustained breakdown of the descending triangle pattern would anticipate a bearish scenario. Breaching the support levels could trigger increased selling pressure, resulting in a further decline in the #marketcap .
