*โ ๏ธ Market Cap Pullback Ahead? Wave Structure Hints Reversal ๐*
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*๐ง Chart Setup (Daily TF):*
This chart appears to be tracking total crypto market cap dominance using Elliott Wave theory. The current pattern suggests a completed *ABCDE rising wedge*, with a potential breakdown already in motion from point *e*.
*๐ Key Breakdown Signals:*
- Rising wedge completed = bearish structure
- Price broke trendline support from wave *dโe*
- Lower highs and increasing selling pressure
- Red zone = key supply / resistance rejection
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*๐ Trending Signals:*
- โ Trendline support lost
- ๐ป Momentum shifting bearish
- โ ๏ธ Failed to make a higher high at wave *e*
- โ Wave theory aligns with corrective move (f incoming)
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*๐ฏ Target Zones (If Breakdown Plays Out):*
- Green zone (short-term target): ~61.40%
- Mid zone: ~60.00%
- Major support (wave f trendline): ~57.50%
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*๐ฎ Prediction & Analysis:*
Market cap dominance is showing signs of topping out after a strong rally. If the wedge structure plays out, we could see a pullback toward 60โ57.5% levels. A bounce may occur in between, but lower lows are likely ahead if trendline f is tested.
*Summary:*: ๐จ Watch for further downside as dominance breaks key structure. Relief bounces expected, but the bigger wave suggests a deeper correction brewing. Stay cautious!
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