Analyzing Altcoin Market Cap with Ichimoku
The price is within the cloud might signify a period of indecision in the market, with potential range-bound trading.
The bearish Kumo crossover, along with the Tenkan-sen below the Kijun-sen, hints at a short-term bearish bias.
Need watch for price movements with respect to the cloud's edges and the Tenkan-sen and Kijun-sen levels. Breakouts from these levels could signal the start of new trends.
The Lagging Span below the price but above the cloud further supports the short-term bearish sentiment.
MACD for the last few days underscores the weakening bearish momentum.
Overall we may see a end of this bearish momentum, however need to be extra cautious with our positions since we are at the edge of the support.
The bearish Kumo crossover, along with the Tenkan-sen below the Kijun-sen, hints at a short-term bearish bias.
Need watch for price movements with respect to the cloud's edges and the Tenkan-sen and Kijun-sen levels. Breakouts from these levels could signal the start of new trends.
The Lagging Span below the price but above the cloud further supports the short-term bearish sentiment.
MACD for the last few days underscores the weakening bearish momentum.
Overall we may see a end of this bearish momentum, however need to be extra cautious with our positions since we are at the edge of the support.
Comment:
So it was an end of the bearish momentum as expected.