TOTAL3 - Altcoins Might Pull Back

2023년 11월 13일

Altcoins have seen a boon this last month as well. Altcoin market capitalization increased 30% over the past four weeks, driving up from our Demand Zone.

Altcoin MC has now hit a resistance level at approximately 460B.

Above us is a very wide Low-Volume Node, with the next significant area of resistance in the 650B region.

This means that a successful breakout here could lead to a near doubling of altcoins market capitalization: or as it is colloquially called in crypto: alt season.

Altcoins are unpredictable, however principled analysis here leads me to consider now a current opportunity for trimming initial profits on altcoin long positions, and waiting to see if altcoins continue their charge or fall back into this year's trading range.