Yesterday, the Fed decided not to change rates and therefore leave them between 4.25 % and 4.5 %. The cryptocurrency market must evolve in an environment where the Fed continues to be vigilant about its monetary policy and where tension persists in the Middle East. Meanwhile, Bitcoin is durable because it is still evolving a psychological figure of $ 100,000. However, the cryptocurrency market has changed for several weeks. Can we hope for a large movement? Let’s see if the sector is ready to explode!
A break of $ 3,500 billion could release cryptocurrencies
The total capitalization of cryptocurrencies is va Ascending dynamics with bright ascending cavities and heights since the beginning of 2023. Under these conditions, probabilities are oriented to a A new increase in cryptocurrencies. However, the course is blocking the course against Resistance to $ 3,500 billion ::
If there Resistance to $ 3,500 billion Since the course could explode again. This will require a shopping reaction around diameters for this purpose Mobiles 9 and 18 up. On the other hand, if he had resistance, the course of the cryptocurrency capitalization could enter rack. And in this case the course could return to the next Support for $ 2,500 billion.
Although dynamics are higher, RSI recently verified and divergence. As long as RSI develops under the trend line Downstream, Momentum is fragile.
Altcoins still come against great resistance since 2021
If we are now interested The capitalization of altcoins (by excluding bitcoin and ethereum) we also realize that Dynamics is upstairs. Again, the course can experience well and New phase of increasing. But for that we will have to get rid of and Resistance that dates back to 2021 ::
Be able to run and movement important, and perhaps finally and Real altcoin seasonThe course will have to achieve Break downstream trend line as well as Resistance to $ 1,000 billion. If the course failed, the capitalization of altcoins could eventually lose a level Support to 750 billion dollars. And if this scenario is set up, could find the course Support of $ 530 billion. Part of it RSI is lowereven comes Verify the divergence down.
Meanwhile, the total market capitalization and capitalization of altcoins are blocked on significant resistance. And in order to wake up the cryptocurrency market, these levels will have to be interrupted. If we observe the previous cycles, everything suggests that a new increase in bitcoins is possible. And in this case, altcoins could follow.