The total market capitalization has so far not managed to break through the blue sideways trend channel at the daily closing price. The July 9 breakout attempt failed at the February high of $ 300 billion, and overall market capitalization subsequently fell below the $ 269 billion mark. However, as long as the overall market is above $ 257 billion, the chances of the trend channel top starting again at $ 281 billion outweigh.
The total market capitalization is currently still close to the moving averages EMA10 (yellow) and EMA20 (red). If the bulls break through the $ 269 billion mark dynamically, an increase towards the top of the trend channel at $ 281 billion is expected. If the altcoins can continue to perform strongly in the coming time and Bitcoin with its high dominance cannot break well below the $ 9,000 mark, the overall market should rise again in the direction of the resist zone at $ 305 billion. However, if the bitcoin also rises towards the $ 10,500 mark, a test of the pink horizontal resistance at $ 314 billion is also conceivable. As long as the altcoins remain bullish, an increase towards the maximum price target of $ 328 billion (78 Fibonacci retracement) is also to be planned in the medium term.