A nearly followed crypto analyst indicates that the level of resistance of $ 425 billion for the Altcoin market capitalization could soon be broken.
In a new strategy session, Crypto Trader Rekt Capital indicates to its 535,600 subscribers on the social media platform X that the other graphs, which describe the total market capitalization of cryptography excluding the first ten pieces, could soon have a recovery massive.
He says that the retrace of others compared to the level of $ 425 billion is less deep than the previous breakdowns, which suggests that there is now greater potential for the market capitalization of the Alt to overthrow it.
“The market capitalization of Altcoin is indeed rejected by $ 425 billion in resistance (black). The market capitalization of Altcoin has been considerably traced since. However, this is the way of the market capitalization of Altcoin to produce a less deep retrace to show how $ 425 billion weaken as a point of rejection. »»
The analyst believes that the less deep retirement could give the Altcoin Plus market capitalization to reach new local heights.
“Since the rejection of $ 425 billion, the Altcoin market capitalization has traced by -51%. This is even less deep compared to previous refusals of around $ 425 billion in resistance (-69% and -85%). If the market capitalization of Altcoin in the near future, then the Altcoin market capitalization will be easier to exceed resistance weakened by $ 425 billion over time. »»
The graph of others is currently $ 271.27 billion.
The analyst also updates his perspectives on Bitcoin (BTC), predicting that the flagship asset of cryptography will be negotiated on the short term side on the weekly graph.
“Bitcoin has revisited the level of $ 101,000 (black). In fact, Bitcoin even closed daily above, but failed, the later post-rings of it in the new BTC medium will probably consolidate between $ 98,300 and $ 101,000 at the moment. »»
Bitcoin is traded at $ 96,860 at the time of the editorial staff, down 1.1% in the last 24 hours.
Do not miss a beat-Subscribe to obtain alerts by e-mail delivered directly in your reception box
Check price action
Follow us XFacebook and telegram
Surf the daily Hodl mixture
& nbsp
Warning: Opinions expressed at Daily Hodl are not investment advice. Investors should make their reasonable diligence before making high-risk investments in bitcoin, cryptocurrency or digital assets. Please note that your transfers and trades are at your own risk and that all the losses you may undergo are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, and the Daily Hodl is an investment advisor. Please note that the Daily Hodl is participating in affiliation marketing.
Image generated: Midjourney
