ALTCOIN MARKET CAP UPDATE: In our previous update, the altc | CRYPTO MARKET 🌏NEWS
ALTCOIN MARKET CAP UPDATE:
In our previous update, the altcoin market cap (also known as Total2) was doing well but it couldn't break above the upper trendline. It rather dropped below the 50 D MA and it is currently testing the lower trendline just as we projected the scenario in our previous update.
Now, from our previous update which was on the 10th of July till now, the Total2 has dropped -14% ($744 billion to $614 billion). This drop had a bad impact on several altcoins and we saw major correction in almost every altcoins. The current scenario is showing a bounce and if this bounce continues then we could come back to the $700 billion zones. We also need to keep in mind that the Total2 is holding important support at $596 billion and if it breaks below this level then things may change in the altcoin market.
We are observing the Total2 in a daily timeframe as well and it is important for the Total2 to close above this support level.
…..more updates.
