Crypto traders avoid risk and shelter in stablecoins as the market reaches a turning point
1 min read
On-chain analytics firm Glassnode
Currently, the total market capitalization of altcoins is bound by a bearish descending triangle pattern with lower highs and a parallel support level of $433.39 billion. The selling would likely accelerate below this level.
If buyers push higher by building support above the parallel resistance at $616.35 billion by weekly closing, altcoins could continue to head higher over the next few weeks.
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