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#TOTAL MARKET CAP ANALYSIS
The total crypto market cap is facing rejection from the 50MA, which is acting as a resistance barrier, while the price continues to trade within the broadening wedge pattern.
Currently, it is holding above the 100MA and the wedgeβs support trendline. If the price sustains above this level, we can expect a potential bounce.
However, a breakdown of the wedge will likely trigger further correction across the broader crypto market.
The total crypto market cap is facing rejection from the 50MA, which is acting as a resistance barrier, while the price continues to trade within the broadening wedge pattern.
Currently, it is holding above the 100MA and the wedgeβs support trendline. If the price sustains above this level, we can expect a potential bounce.
However, a breakdown of the wedge will likely trigger further correction across the broader crypto market.
Forwarded from Global Smart VIP π
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