Alts Market Cap (#ALTS) Weekly Chart Update & Analysis
Trend Structure: The altcoin market cap (total crypto market cap excluding BTC) is trading within a broad uptrend channel after a major breakout in early 2024.
Support is currently found near $1.25T (recent swing low and channel support).
Resistance remains around $1.51T (orange line) and $1.76T (major horizontal/upper Bollinger Band zone).
Bollinger Bands: The chart uses weekly Bollinger Bands—price has pulled back from the upper band ($1.76T) and is now holding the midline ($1.26T) as short-term support.
A successful hold above $1.25T keeps the uptrend intact and sets the stage for a move back to $1.51–$1.76T.
A breakdown could lead to a deeper dip toward the long-term rising trendline (currently around $1T).
Alts are consolidating at higher lows inside an uptrend. Holding above the $1.25T area signals strength; a break above $1.51T confirms fresh upside momentum, while losing $1.25T would signal caution for further corrections.
DYOR | NFA
Trend Structure: The altcoin market cap (total crypto market cap excluding BTC) is trading within a broad uptrend channel after a major breakout in early 2024.
Support is currently found near $1.25T (recent swing low and channel support).
Resistance remains around $1.51T (orange line) and $1.76T (major horizontal/upper Bollinger Band zone).
Bollinger Bands: The chart uses weekly Bollinger Bands—price has pulled back from the upper band ($1.76T) and is now holding the midline ($1.26T) as short-term support.
A successful hold above $1.25T keeps the uptrend intact and sets the stage for a move back to $1.51–$1.76T.
A breakdown could lead to a deeper dip toward the long-term rising trendline (currently around $1T).
Alts are consolidating at higher lows inside an uptrend. Holding above the $1.25T area signals strength; a break above $1.51T confirms fresh upside momentum, while losing $1.25T would signal caution for further corrections.
DYOR | NFA
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.