#TOTAL , Hello everyone, I will share the analysis of the index that measures the total size of the cryptocurrency market (which shows the total market cap of the top 125 cryptocurrencies).
2.16T is the resistance level where the sellers who turn the price direction down are more dominant. We can also call it an area of strong resistance. If the price continues to stay above the 2.16T level, a bullish structure will come, and if everything goes positive, I think the cryptocurrency market will go up to 2.45T levels and rise 13%.
How far can it go down if the price doesn't show an upward movement? When we stay below the 2T level, I expect the decline to continue and the blue zone to hold the price depending on the state of the structure.
If the price continues to drop, how far can it go down? A decrease may occur up to the gray zone just below the blue zone. I don't think we will go below this level any further.
Finally, the price has not fully determined its direction at the moment, there is no structure. It's worth waiting.
2.16T is the resistance level where the sellers who turn the price direction down are more dominant. We can also call it an area of strong resistance. If the price continues to stay above the 2.16T level, a bullish structure will come, and if everything goes positive, I think the cryptocurrency market will go up to 2.45T levels and rise 13%.
How far can it go down if the price doesn't show an upward movement? When we stay below the 2T level, I expect the decline to continue and the blue zone to hold the price depending on the state of the structure.
If the price continues to drop, how far can it go down? A decrease may occur up to the gray zone just below the blue zone. I don't think we will go below this level any further.
Finally, the price has not fully determined its direction at the moment, there is no structure. It's worth waiting.
PlutusTheTrader