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Technical Analysis Crypto Market CAP

Crypto Market Cap Prediction by Technical Analysis May 2019

This week, we’ll be analyzing the crypto market cap with a rough prediction and support and resistance levels. The critical technical patterns of the total crypto market cap show a buildup of the current price recovery across the cryptocurrency market.

See a later crypto market cap prediction: Crypto market cap chart and prediction by technical analysis, June 2019.

Crypto Market Cap Prediction by Technical Analysis:

Monthly Chart

Technical Analysis of Crypto Market CAP - Monthly Chart

The above monthly chart illustration of the total crypto market cap is plotted using hollow candlesticks to illustrate historic pattern for future predictions.

If you’ve been following our analysis of the monthly chart of the BTCUSD you will see the similarity between both charts. This of course may be because the BTC is the number one cryptocurrency by market capitalization.

The price action patterns during the crypto rush of 2017 on the above chart is not correlated to that of the BTCUSD.

Again during the crypto rush of 2017, the total crypto market cap was at an all-time high of about $727.5Billion.  A bearish accumulation pattern signalled on February ’18th ignited a decrease in demand for cryptocurrencies and consequently resulted in a rapid decline in the total crypto market cap from $476.9Billion to a low of about $95.5Billion.

Crypto Market Cap Prediction by Technical Analysis:

Weekly Chart

Technical Analysis of Crypto Market CAP -Weekly Chart

From a weekly chart view, we deploy the famous Heiken-Ashi candle chart to help us with predictions. The Heiken-Ashi is is an average of the regular candle patterns.

You’ll notice how the Heiken-Ash candles easily reveal bullish and bearish accumulation patterns, starting from July 31st of’2017 when the total market cap was at $55.6Billion after breaking above bearish accumulation resistance.

The total market cap again broke above another bearish accumulation resistance on October 09th 2017 before rising to the all-time high of $726.9Billion. An opposite bearish accumulation pattern signalled in combination with a breakdown of bullish accumulation concluded the crypto rush of 2017, as the total market cap established resistance at $727.3Billion.

Crypto Market Cap Prediction by Technical Analysis:

Daily Chart

Technical Analysis of Crypto Market CAP - Daily Chart

Looking at the daily chart of the total crypto market cap and switching from regular candlestick chart to Heiken-Ashi chart, you’ll notice a breakout of double bearish accumulation on February 08th 2019 with a total market cap at $105.3Billion.

If you’re to trade the top 10 cryptocurrencies as a unit, subsequent entry signals would have been the breakout of bearish accumulation on March 16th, March 28th and May 01st bringing the market cap to about $228.2Billion.

Crypto Market Cap Prediction by Technical Analysis:

H4 Chart

Technical Analysis of Crypto Market CAP - H4 Chart

The total crypto market cap from a 4hour time frame entered a rising channel, set up by a bullish and bearish divergence pattern of the MACD. The move started after a breakout of bearish accumulation resistance on May 01st with the total market capitalization at $170.6Billion.

Two bullish hidden divergence setups on May 08th at 15:00 and May 09th at 23:00, signalling in combination with a breakout of double bearish accumulation on the dates forced the market cap into an increase from $179.70Billion to $225.7Billion.

A more recent breakout of bearish accumulation where the market cap was at 196.6Billion pushed the total cryptocurrency market cap to a high of $258.7Billion.

Crypto Market Cap Prediction by Technical Analysis:

Major Resistance Levels

Monthly

727,542,259,051; 476,922,484,965; 233619351027; 233254179109

Weekly

727,318,104,328; 437813507925; 233254179109

4Hour

189,401,575,427

Technical Analysis of Crypto Market Cap:

Major Support Levels

Monthly

95,526,879,111; 118,944,394,444

Weekly

55,600,517,242; 91,292,710,588; 95,526,879,111; 119,717,842,069

Daily

105,314,641,701; 119,713,416,226; 118,943,255,302; 127,755,925,501; 127,755,925,501; 175,427,389,608

4Hour

170,641,758,500; 177,069,014,339; 179, 703, 358395; 196,629,134,172

Conclusion – Crypto Market Cap

The total cryptocurrency market capitalization is a great way to gauge the general health of the cryptocurrency market as it reveals certain technical patterns that might not be noticed on other altcoins.

Deploying the Heiken-Ashi candlesticks, we can view the major technical patterns driving the markets, which at the moment points to a sustained bullish trend for the cryptocurrencies in general.

We anticipate a further increase in the total market capitalization towards a prediction above the $300 Billion mark.

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