The total market capitalization of cryptocurrencies (TOTAL) has dropped today by $39 billion, standing at $3.11 trillion, while remaining above the support level of $3.09 trillion. This area remains crucial for maintaining short-term stability as investors reassess their confidence following the recent pullback.
If market conditions worsen, TOTAL could lose support at $3.09 trillion and $3.05 trillion and fall towards $3 trillion. Growing skepticism could pressure traders to sell, which would increase volatility and deepen the correction in major assets.
If conditions improve, TOTAL could rebound and surpass the resistance of 3.16 trillion dollars, opening the way towards the barrier of 3.21 trillion dollars. Renewed confidence and a greater inflow of capital would contribute to a broader recovery.
