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#TotalMarketCap šØšØ
š TOTAL Market Cap - Technical Overview (as of April 6, 2025)
š Current Value:
$2.61 Trillion
Daily drop: ā$35.29B (-1.33%)
š Descending Channel Pattern:
Market remains confined in a well-defined downward sloping channel since early February.
Price is currently near mid-range, with the upper resistance trendline pushing back upward attempts.
š§± Key Resistance Zones:
Upper channel boundary (~$2.75T)
50-day MA (green) and 100-day MA (red) are converging above, acting as confluent resistanceātough zone for bulls.
š Short-Term Bias: Bearish
Multiple rejections from resistance
Lower highs and lower lows intact
Until a breakout above $2.75Tā$2.8T, bearish momentum may continue.
š Bullish Reversal Signal:
A confirmed breakout above the channel + MA cluster could initiate a new uptrend.
First bullish target: $3T
Longer-term breakout target: $3.3Tā$3.6T zone
š Bearish Breakdown Scenario:
Watch support near $2.47T
If broken, next support lies around $2.25T, followed by $2.1T
ā³ Critical Decision Zone:
Price is squeezing near apex of the channel
Expect volatility spike soonādirectional breakout will set tone for April