TOTAL3 - Altcoins Might Pull Back
Altcoins have seen a boon this last month as well. Altcoin market capitalization increased 30% over the past four weeks, driving up from our Demand Zone.
Altcoin MC has now hit a resistance level at approximately 460B.
Above us is a very wide Low-Volume Node, with the next significant area of resistance in the 650B region.
This means that a successful breakout here could lead to a near doubling of altcoins market capitalization: or as it is colloquially called in crypto: alt season.
Altcoins are unpredictable, however principled analysis here leads me to consider now a current opportunity for trimming initial profits on altcoin long positions, and waiting to see if altcoins continue their charge or fall back into this year's trading range.
Altcoin MC has now hit a resistance level at approximately 460B.
Above us is a very wide Low-Volume Node, with the next significant area of resistance in the 650B region.
This means that a successful breakout here could lead to a near doubling of altcoins market capitalization: or as it is colloquially called in crypto: alt season.
Altcoins are unpredictable, however principled analysis here leads me to consider now a current opportunity for trimming initial profits on altcoin long positions, and waiting to see if altcoins continue their charge or fall back into this year's trading range.
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