TOTAL3: STILL ABOVE THE SUPPORTING TRENDLINE.Hello traders, here is a quick update on the Total Market Capital (Excluding BTC).
Timeframe: Weekly.
The Totoal2 has been under a downward trend for quite a long time. A trillion-dollar market has now come down to 446.8 billion dollars within a year. Still, after a drastic change in the price action, Total2 has managed to stay above the support line. This can turn out to be a positive thing for the altcoin market. If the T2 sustains this support level then we can expect a bounce back toward the 700 billion dollars resistance trendline. This means, a good green rally for the altcoins.
If T2 breaks down below the trendline line then things may get worse for the altcoin market. As of now, things look under control and I am hoping that the T2 will make a positive move soon.
That's it from my end, I will see you in my next update.
Enjoy your Christmas, guys.
