Alt MarketCap Analysis: Could Another Crash be on the Way
Nouvive Intelligence provides their thoughts and analysis that based on the AltCoin MarketCap index, we could see another 7.59% wipe down of Altcoins over the course of the week.
What does the Chart Say?
- The Marketcap could be caught by the 9D Moving Average, this can be used as a support.
- Increased volume coupled with a renewed Bitcoin sentiment can see the market cap power through the resistance at $52 Billion – currently trading slightly above $50Bn.
- RSI Stochastic illustrates that there is still more momentum to trade above it.
- Market sentiment is up by 4% over the past 12 Hours.
- Lower Highs and Lower Lows illustrate that we could see a crash of 7.59% in the coming days.
- RSI Stochastic will cross-over in the next 25 hours, it is usually an indication of the MarketCap coming down.
- Accumulation has decreased over the past 36 Hours.
- Increased sell-side support illustrates that we can see the case of a fall.
- A rising wedge, with a breakdown of it, illustrates that we are about to see a sharp reversal from the 7th December.
Nouvive Says: There is MORE THAN LIKELY evidence that we will see a breakdown of continued growth with a 7.6% wipe out of the Altcoin Market, back down to the lows of the 7th December.
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