The Crypto Total Market Cap (excluding top 10) dominance is showing interesting action around the key 8.30% level. Historically, this level has acted as strong support/resistance (see 2017, 2020, 2022).
After breaking below 8.30% in late 2023, we’re now seeing a retest from the downside.
The price has bounced off this level with a decent volume spike, suggesting potential for an upward move.
If this support holds, we could see a push toward the next resistance around 11%-12% in the coming months.
Keep an eye on volume – sustained buying pressure will confirm the breakout.
💡 Trading Idea: Watch for a weekly close above 8.30% for confirmation of bullish momentum. On the flip side, a rejection here could lead to a retest of lower supports around 7%.
What do you think?
After breaking below 8.30% in late 2023, we’re now seeing a retest from the downside.
The price has bounced off this level with a decent volume spike, suggesting potential for an upward move.
If this support holds, we could see a push toward the next resistance around 11%-12% in the coming months.
Keep an eye on volume – sustained buying pressure will confirm the breakout.
💡 Trading Idea: Watch for a weekly close above 8.30% for confirmation of bullish momentum. On the flip side, a rejection here could lead to a retest of lower supports around 7%.
What do you think?
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.