The TOTAL3 (altcoin market cap excluding BTC & ETH) has now climbed back to the $1T zone, almost testing its previous highs. But if we look closer, the chart is flashing a clear bearish divergence alongside a double top (M-pattern) structure.
Here’s the key takeaway:
If the pattern plays out, 950B support becomes the crucial line to watch.
A bounce at 950B could just be a healthy correction from the bearish divergence.
But if 950B breaks, the next strong support sits near 786B.
That zone could open doors for fresh altcoin accumulation opportunities. On the other hand, for those already holding, this level can also be considered a final profit-taking area before a deeper correction sets in.
Overall, the chart suggests the altcoin market is due for correction, especially with Bitcoin dominance on the rise. Patience and risk management are key here.
Here’s the key takeaway:
If the pattern plays out, 950B support becomes the crucial line to watch.
A bounce at 950B could just be a healthy correction from the bearish divergence.
But if 950B breaks, the next strong support sits near 786B.
That zone could open doors for fresh altcoin accumulation opportunities. On the other hand, for those already holding, this level can also be considered a final profit-taking area before a deeper correction sets in.
Overall, the chart suggests the altcoin market is due for correction, especially with Bitcoin dominance on the rise. Patience and risk management are key here.
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Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.