The TOTAL3 ( $BTC excluding $ETH total market cap) chart actually shows the general health of the altcoin market. Therefore, the structure we see here directly reflects altcoins' risk appetite.



The macro structure is still in a downtrend. The lower high – lower low series following the September peak hasn't been broken. In other words, the market is still weak in the big picture. Price couldn't break the 765T resistance. If it did, I think it would go maximum to 850T. The 715T-765T range looks like a "reversal or continuation" zone.

In the short term, buyers are testing. However, this doesn't yet provide a trend reversal. If the price breaks above the 0.786 (765B) level and holds, we could see some short-term relief in altcoins. The macro trend is still Bearish.

⚠️ #reklam veya yatırım tavsiyesi değildir. Analiz şahsi görüşümdür. Kesinlik içermez. #Total3
BTC-3,63%
ETH-5,34%
View Original
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin