$BNB

Market capitalization is rejected but altcoins are consolidating strength

Technical analysis by Rekt Capital emphasizes the importance of the $425 billion resistance level for the altcoin market, particularly for altcoins outside the top 10. This analysis is conducted in the context of an unstable altcoin market over the past week, following a prolonged correction that began in early January, since the market cap reached a multi-year high of approximately $440 billion.

Although altcoins were firmly rejected at this critical resistance level, the depth of the recent correction remains significantly shallower compared to previous ones. The current correction has only dropped about 50% from the $425 billion resistance level, while two previous major declines recorded deeper levels of 69% and 85%. This mild correction indicates that a change may impact the trajectory of the altcoin market.