A single data is enough for us to follow the general performance of alt coins: OTHERS
What is the current status of OTHERS data as of March 12, 2024?
What is OTHERS?
OTHERS data calculates the total market cap of all but the top 10 instruments in crypto.
Well, let it calculate for us, what is the difference between TOTAL2 or TOTAL3, I can hear you asking. When calculating TOTAL2 and TOTAL3 data, we also take into account stable tokens with very high market value, such as USDC and USDT. This may mislead us in predicting the price movement of altcoins.
When investors sell their altcoins, they can switch to stable tokens such as USDT or USDC, which does not create a change in data such as TOTAL2 or TOTAL3.
Technical Data (weekly)š
Momentum is quite strong, supporting the bulls.
The RSI is in the overbought zone at 87 points, but we witnessed it rising up to 96 points in the previous bullish. Of course, this does not mean that the same thing will happen, but considering that it repeats the cycle, we can expect a correction.
When we look at ADX, we can see that the bulls are losing power, indicating a possible correction.
Thank you for readingš
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