Analyzing the chart of Altcoin Marketcap
, the first thing we can mention is that the marketcap
has broken though the ascending support and now continue its dump. In this situation, we need to understand where are located support levels. First of all, we have descending support of the down-trend. This support
has already shown its strength many times in the past. If marketcap hit this support we can start considering entering altcoins.
, below the descending support, we have another support which is located at 69 billion
. Therefore, we can confidently accumulate altcoins in the zone of 69 - 75 billion
. Moreover, there is a bullish
convergence which can pump the "price"
for a bit which will postpone a break of the descending support.