The market capitalization is attempting to break the resistance of the weekly 50 EMA. If the resistance level holds, the price will decline towards the lower boundary of the channel and the weekly 200 EMA and 200 SMA. A breakthrough of the 50 EMA will propel the market capitalization towards the upper boundary of the channel.
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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.