The TOTAL2 chart — representing the altcoin market cap excluding Bitcoin — currently shows signs of weakness. A double top formation has emerged and is actively playing out. In addition, a micro trend change of character has clearly appeared, further validating short-term bearish pressure.
Technical Observations:
Price recently retested a broken support level and failed to reclaim it — a typical bearish confirmation.
In such scenarios, it’s common for the price to decline at least the depth of the double top formation.
However, it’s important to note that macro trend indicators still remain bullish, so entering aggressive short positions is not advised. Instead, consider setting alerts at the key reversal zones marked on the chart — these levels are likely to trigger a strong rebound.
If TOTAL2 breaks above the $1.23T resistance, this double top analysis becomes invalid.
— Thanks for reading.
Technical Observations:
Price recently retested a broken support level and failed to reclaim it — a typical bearish confirmation.
In such scenarios, it’s common for the price to decline at least the depth of the double top formation.
However, it’s important to note that macro trend indicators still remain bullish, so entering aggressive short positions is not advised. Instead, consider setting alerts at the key reversal zones marked on the chart — these levels are likely to trigger a strong rebound.
If TOTAL2 breaks above the $1.23T resistance, this double top analysis becomes invalid.
— Thanks for reading.
Trading ditutup: target tercapai
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Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.