$TOTAL Crypto Market Cap: Testing a Key Resistance Level

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The TOTAL crypto market cap has just hit the upper edge of a descending channel, currently sitting at $2.84T. Here’s why this moment is worth watching closely:

🔹 Mixed Signals Across Timeframes

On the 12H and daily charts, there’s still room for more upside, which is pretty exciting for bulls! But on the 4H chart, we’re already looking quite overbought, so we might be at a turning point.

🔹 Breakout Potential

If we can break through this channel resistance—and I’m talking about a strong move with solid volume behind it—we could see some serious momentum. I’m targeting $3.1-3.25T as the next major zone, a key liquidity area and Point of Control (POC) where we might see a lot of action. If the breakout holds, that move could happen faster than you think!

🔹 What If We Don’t Break Out?

If the breakout fails, I’d expect the price to consolidate near this upper channel line for a bit, which would be a healthier setup for the next leg up. As part of this consolidation, we might see a dip to grab liquidity at the previous low around $2.7T before climbing higher. That pullback could actually set us up for a more sustainable rally later on.
Nota
We have swept the previous low as expected. The price could potentially drop further, reaching the uptrend line and the 3-day EMA (around 2.63T). After that, I anticipate a bounce into the red box.
Trade attivo

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