Daily Altcoin MarketCap Analysis
Altcoin MarketCap Analysis takes into account the entire alt coin market to decipher what will occur next.
What do the Charts Show?
- No fundamental driving news is set to be released for the next 7 days.
- Following to a fall to the 0.236 fibonnaci line, we saw a reversal over the past 24 hours leading to the build up to the 0.5 Fib line.
- A close above the 0.5 fib line would indicate continued increases in the market.
- This comes despite increased selling pressure – we saw a boost to the entire market during the course of the day.
- Accumulation following the boost today, cooled off according to accumulation and market sentiment with the market believing that this was a false breakout.
- RSI Stochastic is indicating that there is continued momentum with MACD illustrating that a close above the 0.5 fib would indicate that we could see an average of a 6% increase going into tomorrow.
- A fall and a close below the 0.382 line would indicate that there is bearish momentum and indeed this was a false breakout.
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