Crypto Total Market Cap Consolidation: Imminent Breakout Ahead?Key Observations:
1. Symmetrical Triangle Pattern:
The price is consolidating inside a symmetrical triangle, with lower highs and higher lows.
A breakout in either direction is imminent.
2. Exponential Moving Average (EMA 200):
The 200-period EMA is at 3.26T, currently acting as resistance.
A breakout above this level could indicate a bullish trend continuation.
3. Relative Strength Index (RSI 14):
Current RSI: 49.34, slightly below the neutral 50 level.
This suggests neutral momentum, with no clear overbought/oversold signals.
A move above 55-60 could indicate increasing bullish momentum.
Potential Scenarios:
1. Bullish Breakout:
If TOTAL breaks above the triangle resistance and EMA 200, the next targets could be 3.3T - 3.5T.
Confirmation requires high volume and RSI above 55.
2. Bearish Breakdown:
A break below the triangle support could push TOTAL toward 3.0T or lower.
RSI dropping below 40 would confirm bearish momentum.
Conclusion:
The market is in a consolidation phase, awaiting a breakout. Watch for volume confirmation and EMA 200 reaction to determine the next move.
