TOTAL 3 Weekly chart
TOTAL 3, which excludes BTC and ETH has pulled back More than the TOTAL, which shows us that Bitcoin is holding up better.
However, The ALTS represented in this chart are now testing a long term support while also sitting on the 50 EMA which could also offer support
The MACD is still Bearish though and this could lead to either Ranging or a drop below support
What is most telling here, as mentioned in previous posts about the TOTAL 3 , is that it has still failed to reach and pass the Neckline of the FTX Drop
This shows , again, that Bitcoin has the favour of the market and continued uncertainty is holding the ALTS back
But that is not all doom and gloom as there have been some Huge gains in some Alts coins in recent weeks
This market is FR from dead as some would like to imply.........
However, The ALTS represented in this chart are now testing a long term support while also sitting on the 50 EMA which could also offer support
The MACD is still Bearish though and this could lead to either Ranging or a drop below support
What is most telling here, as mentioned in previous posts about the TOTAL 3 , is that it has still failed to reach and pass the Neckline of the FTX Drop
This shows , again, that Bitcoin has the favour of the market and continued uncertainty is holding the ALTS back
But that is not all doom and gloom as there have been some Huge gains in some Alts coins in recent weeks
This market is FR from dead as some would like to imply.........