#TOTAL Crypto space facing significant resistance here

If you draw the anchored vwap from the important last significant swing low and high from 2021, the bands pretty much line up at the 200day moving average which has been a significant point of polarity for the total market cap chart. With price action seemingly stuck here for the last 3 days, the crypto market is at risk at halting recent upside from this level. Alternatively, if the market can break above this level then that opens up a new shift, but my gut says given the level of resistance we face, it is going to be very difficult in the short term to break this level without a correction first. Let's see where we go..

Commentaire:

36% lower now from area identified as major resistance area. 1.2T should be natural support from 2021 lows

Commentaire:

Crypto market cap now more than 50% off the level identified to be critical resistance