In the crypto currency market, the eyes have been turned to the total market value of Altcoin. Analyst Rek Capital evaluated the likelihood of the Altcoin market exceeding the critical resistance point of $ 425 billion. Compared to the previous retreats, the current decrease was more limited. Bitcoin $97,393.9He also tested $ 101 thousand dollars, but stressed that it may be difficult to find support.
425 billion dollars resistance in the Altcoin market
Rect Capital, analyzing the overall appearance of the Altcoin market, drew attention to the “Others” index. This table refers to the total market value of assets except the ten largest crypto currencies. Analyst said that the Altcoin market has experienced a lighter retreat than previous decreases.
Although the market value has a short -term decrease, it gives recovery signals. According to the analyst, it is possible for subcoins to exceed the resistance level. Exceeding a level of 425 billion dollars can increase the acceleration of the rise for subcoins. However, fluctuations may occur in the market before breaking this level.
Investors should closely follow the mobility in the market. If the resistance level is exceeded, a new upward trend in the market may begin. However, it is important to consider the risk of volatility.
Bitcoin tested 101 thousand dollars
Rect Capital said Bitcoin reached $ 101 thousand, but could not provide strong support here. The analyst predicts that Bitcoin can follow a horizontal course under current market conditions. Bitcoin is trading around 96 thousand dollars at the time of the article.
Bitcoin’s inability to hold on these levels may cause fluctuation in the Altcoin market. Bitcoin’s direction will also affect the course of the general crypto money market. A permanent movement above $ 101 thousand dollars can create a new purchase wave in the market. However, downward movements may pose a risk for investors.
The approach of the Bitcoin and the Altcoin market to critical levels directs investors to move cautiously. While uncertainty continues in the market, investors need to be careful. Crypto money analyzes offer important clues to estimate future movements.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
