MARKET ANALYSIS

This past week has been challenging for the Total Crypto Market Cap as it broke two key indicators: the weekly 200 Moving Average (MA) and the daily ascending support line.

The Total MC fell from $1.05T to below $1T during the period, though it has rebounded over the last three days to its current position at $1.024T.

Meanwhile, the market is oversold on higher time frames, so we might see a move back up to test both the previous $1.05T area and the prior daily support line, which will now serve as resistance.

But, if the total crypto Market Cap loses its $1T support level, the next one stands at $875B.