ππ TOTAL3 Breaks Year-Long Trend! Alt PUMP Imminent?
If the TOTAL3 Can Break THIS Level, ALL Alts Could SOAR!
Overview
Chart #1 - Ethereum (ETHUSDT) Daily
Chart #2 - Crypto Total Market Cap Excluding BTC and ETH (TOTAL3) Daily
Chart #3 - S&P 500 Futures (ES1!) Daily
Chart #4 - Fantom (FTMUSDT) Daily
Chart #5 - Fear and Greed Index
Chart #1 - Ethereum (ETHUSDT) Daily
Chartist: Sheldon
(For the chart screenshot, click here.)
This morning, ETH was once again rejected at $1,870.
It is overbought on the daily time frame and should continue to consolidate between the daily 200 Moving Average (MA) and the $1,850 resistance level for a few days, resetting the indicators for the next leg to the upside.
If ETH breaks through $1,850, the next area of resistance is at $1,950 - $2,050.
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Chart #2 - Crypto Total Market Cap Excluding BTC and ETH (TOTAL3) Daily
Chartist: Kyle
(For the chart screenshot, click here.)
The TOTAL3 is finally breaking its longer-term downtrend it has been in for over a year!
With closing candles now above the last lower high, the structure is shifting. The next level to watch is $400 billion, which was the prior range high.
If the TOTAL3 can surpass that level, a significant breakout for all altcoins might be on the horizon.
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Chart #3 - S&P 500 Futures (ES1!) Daily
Chartist: Kyle
(For the chart screenshot, click here.)
The stock market, on the daily timeframe, has begun to reclaim the 200-day moving average after a robust bounce from a crucial horizontal support.
Multiple closing candles above the 200-day MA would means that the low has been established!
Historically, most major pivot levels occur in October.
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Chart #4 - Fantom (FTMUSDT) Daily
Chartist: Sheldon
(For the chart screenshot, click here.)
FTM has rallied over 50%, from $0.17 to $0.26! But itβs now losing momentumβ¦
This morning, there was a pullback at the $0.26 resistance level. With the daily 200 MA just above at $0.2650, I believe the $0.26 - $0.2650 area will be challenging to surpass in a single attempt. The price is overbought on the daily timeframe, so I anticipate a pullback to test lower support areas.
The first support level is at the range's low resistance of $0.2450, followed by a support zone at $0.21 - $0.2250.
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Chart #5 - Fear and Greed Index
The Fear and Greed Index is sitting at 72 today, indicating Greed.
The highest the index has been over the past seven days is 72, and the lowest is 65.
Banterβs Take
The market is showing an increased appetite for risk, but exercise caution when chasing pumps, as many altcoins may experience sharp pullbacks.
Stay safe my friends!
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