Cryptocurrencies

The Crypto Market Cap Pullback After an Obvious Hitting Resistance Level

Sometimes you just need to look at the broader picture.  Yes, it would be nice to see recent crypto rally continue, but getting a pullback was pretty obvious once you look at the total crypto market cap chart.

Major Resistance Stops the Rally for Now

Looking at the chart in this post you can see market cap rallied up to that prior support level only to hit it’s head a few times before backing off.

The good news is the rejection wasn’t hard and fast so even if we were to sell off some more I like the price action still.

Market cap failing to bust through that level on the first attempt is not the worst thing and I’d of been surprised if it even did.

That level has alot of significance.  If you look back on the chart you can see it was an area of action on the way up and the way down.

There will be a battle for sure.  Let the bulls be victorious!!!

 

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