Crypto Total Market Cap Excluding BTC (TOTAL2) - Daily Timeframe
1. Market Overview:
Current market cap: $1.05T (+0.83%)
The market cap has bounced from recent lows (~$827B) and is showing some recovery.
The Fibonacci retracement levels suggest key areas of resistance and support.
2. Fibonacci Levels & Market Structure:
The downtrend retracement from the recent high ($1.64T) to the low ($923B) is mapped with Fibonacci levels.**
23.6% ($1.09T) and 38.2% ($1.2T) retracement levels are key resistances.
Major resistance around $1.28T (61.8% Fib), which aligns with previous consolidation zones.
If the price fails to break above $1.09T convincingly, a potential retest of the $923B-
1T range is possible.
3. RSI & Momentum:
RSI is showing slight bullish divergence, indicating that selling pressure is reducing.
RSI is currently below 50, meaning there is still cautious sentiment, but an upward break could confirm a bullish shift.
4. Key Scenarios:
✅ Bullish Case: If TOTAL2 reclaims $1.09T and holds above, it could target $1.2T and then $1.28T.
❌ Bearish Case: Failure to break $1.09T might result in a pullback towards1T or lower.
Conclusion:
Short-term: Neutral to slightly bullish (needs confirmation above $1.09T).
Long-term: Needs a break above $1.2T for trend reversal confirmation.
Watching volume and RSI movement is crucial for next moves.
Would you like a detailed trade setup or further insights on potential altcoin impact? 🚀
Current market cap: $1.05T (+0.83%)
The market cap has bounced from recent lows (~$827B) and is showing some recovery.
The Fibonacci retracement levels suggest key areas of resistance and support.
2. Fibonacci Levels & Market Structure:
The downtrend retracement from the recent high ($1.64T) to the low ($923B) is mapped with Fibonacci levels.**
23.6% ($1.09T) and 38.2% ($1.2T) retracement levels are key resistances.
Major resistance around $1.28T (61.8% Fib), which aligns with previous consolidation zones.
If the price fails to break above $1.09T convincingly, a potential retest of the $923B-
1T range is possible.3. RSI & Momentum:
RSI is showing slight bullish divergence, indicating that selling pressure is reducing.
RSI is currently below 50, meaning there is still cautious sentiment, but an upward break could confirm a bullish shift.
4. Key Scenarios:
✅ Bullish Case: If TOTAL2 reclaims $1.09T and holds above, it could target $1.2T and then $1.28T.
❌ Bearish Case: Failure to break $1.09T might result in a pullback towards
1T or lower.Conclusion:
Short-term: Neutral to slightly bullish (needs confirmation above $1.09T).
Long-term: Needs a break above $1.2T for trend reversal confirmation.
Watching volume and RSI movement is crucial for next moves.
Would you like a detailed trade setup or further insights on potential altcoin impact? 🚀
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.
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.