The total crypto market cap is still in a strong weekly uptrend, currently bouncing off the main ascending channel support and trading around the 3.1T area.
The price has respected the long-term ascending channel since 2023, and the recent correction from the 4T+ highs has so far held at the lower trendline and within the Ichimoku cloud, keeping the macro bullish structure intact.
Recent weekly candles show a rejection wick at the channel support, followed by a positive reaction, indicating that buyers are defending this zone rather than a complete breakdown occurring.
DYOR | NFA