Altcoin Market Cap: RSI Bullish Divergence Confirmed
Altcoin market cap tests support with weekly RSI bullish divergence confirmed on MACD above 200-week MA, echoing 2023 dip-buy zones.
SourceAnalysis
Altcoin market capitalization tests prior support levels while posting a weekly bullish divergence on the RSI that the MACD confirms, repeating the exact setup seen during the 2023 bottom and keeping price action above the 200-Week MA. Traders note the significance of 200-week moving average in cryptocurrency market cycles as the retest creates classic dip-buying zones with slim odds of a break lower. Historical examples of altcoin market cap RSI MACD bullish divergence show these regions often precede sustained rebounds when BTC holds its long-term floor.
Michaël van de Poppe
@CryptoMichNLMacro-Economics, Value Based Investing & Trading || Crypto & Bitcoin Enthusiast