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Is the Crypto Market Totally Crashing Now?

 


The market cap of the crypto market continues to shrink – while volatility is decreasing. The calm before the storm?


How low can the crypto market fall?

The crypto market continues to lose market cap. Over the last month, the crypto market failed to clear the 50-month EMA at $1 trillion. The volatility is always lower. In June it was still significantly higher than in July and in July it was significantly higher than in August. In September it was even lower.


With that, the crypto market could now sneak to the support zone between USD 535 billion and USD 766 billion in October.


Because even the histogram of the MACDs could not close bullishly higher in the last month. In addition, the MACD lines in the monthly chart are bearish crossed and the RSI is giving neither bullish nor bearish signals. So there are no bullish signals in the monthly chart.


For a bullish trend reversal, the crypto market would have to break the golden ratio at around USD 2.2 trillion anyway. For that, the market capitalization would have to almost triple.


Is low volatility the calm before the storm?

The low volatility currently allows for two scenarios. In the bullish scenario, a consolidation phase begins in which the market moves sideways for a few weeks before bottoming out and starting a new bull cycle.


In the bearish scenario, it is the calm before the storm that will soon lead to a sharp drop in prices. Finally, the stock market is also extremely bearish and this could be the start of a global recession that will also affect the crypto market.


For bullish hope, the crypto market should break the Fib resistances around $924 billion and $970 billion. The next significant Fib resistances are then waiting at around USD 1.01 billion and around USD 1.08 billion.


Barring a break of the $1.08 billion 200-week EMA, we are likely to see even deeper lows.


In the daily chart, the crypto market is in a parallel downward channel

In the daily chart, the crypto market is in a parallel downward channel. Also, the EMAs are crossed bearish and the death cross confirms the trend bearish in the short to medium term. Additionally, MACD histogram is ticking bearish lower today after ticking bullish higher for a few days earlier.


The MACD lines are still bullishly crossed and the RSI is neutral.

In the 4H chart, an attempt to convert the death cross into a golden crossover failed a few days ago. Thus, the trend remains bearishly confirmed in the short term.


If the crypto market bearishly breaks the support between $535 billion and $766 billion, a fatal crash could ensue. Then the crypto market will only find significant support again between USD 300 billion and USD 390 billion.


DISCLAIMER

All information contained on our website has been researched to the best of our knowledge and belief. The journalistic contributions are for general information purposes only. Any action taken by the reader based on the information found on our website is entirely at their own risk.

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