You probably didn’t miss the capital information in the last few days, which is a hacking for an amount of more than $ 1.4 billion? This plunged the market from several percentage, especially on ETH, which is the main active concern of the security defect. With the beginning of the week on the green in the cryptocurrency market, the weekend seems to be in the same dynamics SA ETH for more than $ 2,800Gradually continuing. Let’s take a look at the results of this case from our graphics to be drawn.
3,200 billion: Main resistance for the crypto market
Initially, let’s look at the main indicator of market health: the overall capitalization and joining of the value of all market assets. On a daily scale, be aware that the course has created and Support in the old resistance zone about $ 3,000. This is the point we mentioned several times in our previous market analyzes.
What we can add to our analysis, in addition to contraction of the course and reducing volatility from February, the design of resistance around is $ 3,200 billion. In confusion with several mobile diameters, observation is clear: the market will restore the dynamics of interference when this technical threshold is returned by an ascending break.
For now, you should be patient. With medium -term/long -term distortion of the remaining (upward dynamic) it is simply for buyers Prevent the current area To avoid exceeding below $ 3,000 billion. The area of 3,200 billion, as soon as it is exceeded, will allow the market to access the highest terminal.
Altcoins are trying to continue
With the exception of Bitcoins and Ethereum, the situation is difficult. The market is found Stuck under the confluence of the resistance (Ema 13 and 25) as well as the horizontal area of around $ 935 billion. He has blocked in this area since February, trying to take over and multiply the release.
However, the upward cavities are gradually trained. Graphically we are continuing what was previously studied with the overall market capitalization: A reduction in volatility. It is a safe bet that a large movement will soon occur so that the market can restore new dynamics.
In this graph, if $ 930 billion does not return, it will be complicated for altcoins to go north to get rid of the peaks of December. In this context, Let’s see more precisely what is happening on the market outside the TOP 10.
What is the top 10 cryptocurrencies?
For Change our habitsInstead of looking at the dominance of Bitcoins (BTc.D), which develops at high levels, we will take into account other capitalization in trading. Unlike Total or Total3, this allows us to visualize the market dynamics by excluding 10 most capitalized assets (also including some stablecoins).
Note that for active workers outside the TOP 10, with reduced capitalization that Volatility is more important. Also note that this class of assets is found under resistance around $ 280/300 billion. However, it should be remembered that cavities and peaks remain (for now) Ascendentas on the weekly scale. With a low point of about $ 230 billion, this helps to maintain ascending dynamics. Good news for altcoins.
In this context, if the main cryptocurrencies that are bitcoins and ethereum do not go south, it is appropriate to expect and Restoring the technical zone under which capitalization is currently developing. The bruising will remain bruising if the market is maintained above 230 billion.
Pain lost for Prince of Cryptocurrency?
Is it a long -awaited time for Ethereum to start on the market? A couple ETH/BTC is Ready to control a bounce This allows Ethereum to register new heights. Dynamics is always down on a weekly scale, the course lost the main pivot. In parallel, however, note that after the peak of the activity around Solan sees the activity of her network in full fall. This could benefit the Ethereum network and its L2.
In this uncertain context, the graphics of the ETH/BTC are quite clear. With a Excess reduction up to 0.021btc For ETH, the current problem is to restore the technical zone around 0.029/0.030BTC. This recovery is essential that the assets allow the dollar and the hardware store to be transformed by $ 3,000.
With the turbulence known on the market, especially after a hackbut with Lazarus by Zacxbt, note that itEthereum and altcoins are quite good A cap that suggests the hope of restoring the dynamics of the rise in the next few weeks in March. The levels in this analysis are quite clear. Although the medium/long -term trend remains unchanged, there is a certain threshold, but it must make sure that the market will not make a way south. Bitcoin will be the catalyst of this renewal?
