Crypto News- As of late, TOTALCAP has shown signs of a potential breakout. The journey began on September 11, as it found support at the $1 trillion horizontal level. Just seven days later, it managed to break free from a descending resistance trendline.
What’s Driving Today’s Crypto Market Surge?
Following this breakout, on September 25, the price revisited and confirmed the trendline as a reliable support level (indicated by the green icon). However, despite a brief bounce, it struggled to breach the $1.10 trillion resistance area. Eventually, TOTALCAP experienced a dip, forming a long upper wick (as shown by the red icon). Notably, it established a higher low on October 12 (the black icon).
Shortly after, it embarked on another upward journey, hitting a peak of $1.12 trillion on October 16, only to retreat beneath the $1.10 trillion level.
It’s worth noting that with each touch, resistances tend to weaken. Therefore, a future breakout from this range is the most probable scenario. In the event of such a breakout, TOTALCAP could aim for the next resistance at $1.16 trillion, marking a 6.50% increase from its current level. Despite this optimistic outlook, failing to surpass the $1.10 trillion resistance might trigger a nearly 9% drop towards the nearest support at $1 trillion.
Bitcoin Nears $30,000 Threshold
On October 1, the price of Bitcoin (BTC) made a significant move by breaking free from a long-standing descending resistance trendline. It retraced back to validate this trendline as support on October 11 (indicated by the green icon) and then picked up its pace in terms of gains.
By October 16, BTC had soared to $30,000 and decisively broke through the $28,000 resistance area. Although the price experienced a slight dip afterward, it managed to close the day at $28,500, notably above the $28,000 resistance level.
Bitcoin SV (BSV) Challenges the $56 Resistance
The price of Bitcoin SV (BSV) has been on a steady ascent, riding an ascending support trendline that dates back to June. This trendline has been confirmed multiple times, most recently on October 9.
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