OTHERS Weekly Chart | Testing Critical Resistance
Altcoin Market Excluding Majors ⚡Testing Critical Resistance | OTHERS Weekly Chart
Description:
The **OTHERS** chart, tracking the market cap of smaller altcoins (excluding BTC, ETH, and top majors), is approaching a **key resistance near 330B (0.236 Fib level)**. 🚨 This level has historically rejected price (see red circles 🛑), but rising **volume** and strong momentum 📈 suggest a potential breakout.
Key Observations:
1. **Parabolic SAR (PSR)**: Green dots signal continued bullish momentum, with previous reversals marked by red dots.
2. **Fibonacci Levels**:
- The price has cleared the **0.382 Fib (~255B)**, which is now acting as support.
- Testing **0.236 Fib (~330B)** as resistance.
3. **Volume Spike**: Recent volume surges indicate growing interest in smaller altcoins.
4. **Moving Average**: Price is trending above the long-term moving average (pink line), showing a bullish structure.
What to Watch:
- **Bullish Case**: If the price breaks and holds above **330B**, this could lead to further upside in the altcoin market. 🚀
- **Bearish Case**: A rejection at this level may result in a pullback to support near **255B**, offering re-entry opportunities.
Takeaway:
Smaller altcoins are gaining traction as they test a critical level. Keep an eye on volume and momentum—could this be the start of an altcoin rally, or is a pullback incoming? Share your thoughts below! 💬
Disclaimer
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