Crypto Market Cap Drops to $3.12 Trillion Amid Intensified Short-Term Selling
- Market Cap Decline: The total crypto market cap has fallen to approximately $3.12 trillion, indicating intensified short-term selling pressure, although overall market sentiment remains neutral, suggesting investors are not entering panic mode.
- Bitcoin and Ethereum Performance: Bitcoin is trading around $91,100, down over 3% on the day, while Ethereum has slipped more than 4% to about $3,150; however, both assets remain positive on a weekly basis, highlighting a disconnect between short-term volatility and long-term trends.
- Sentiment Indicators: The Fear and Greed Index holds steady at 49, indicating neutral market sentiment, while the average crypto RSI has dipped to 49.45, confirming that the market is neither oversold nor overheated, reflecting a cautious investor stance.
- XRP's Unique Performance: Despite overall market weakness, XRP has dropped over 8% in the past 24 hours but has gained over 18% on the week, suggesting that recent selling is more likely profit-taking rather than a complete breakdown of the trend.
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Technical Analysis for ALT
Technical Sentiment Analysis for Altlayer (ALT) As of , Altlayer (ALT) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for ALT stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, ALT is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Altlayer (ALT) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0032 | 0.00505 | 0.00705 | 0.0089 | 0.0109 | 0.0127 | 0.0147 |
| Fibonacci | 0.00505 | 0.00652 | 0.00743 | 0.0089 | 0.0104 | 0.0113 | 0.0127 |
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