Bitcoin struggles to recover, altcoins remain to watch – Steady Lads

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The total crypto market capitalization excluding stablecoins, represented by the TOTAL.ES index, is testing an important support zone on the weekly chart. Cara sees this as a possible point of support for a rebound. Below, the technical benchmarks become fewer.

This does not mean that a decline would necessarily be continuous. A market can build a low point without rejoining old support. These zones are mainly used to identify places where a buyer reaction seems more likely, without guaranteeing it.

For its part, Bitcoin is moving in a wide range between $75,500 and $87,000. On the daily chart, Cara does not yet see a sufficiently clear succession of ascending troughs and peaks to favor a recovery. Winning back the $81,000 is a first criterion for improving your reading.

In the shorter term, movements remain difficult to interpret. Since the beginning of October, several threshold crossings have quickly failed. These reversals complicate the placement of positions and increase the risk of multiplying contradictory decisions. In this environment, Cara favors reduced exposure and the expectation of a more readable structure.

The altcoin index against the dollar is also returning to support. Maintaining it would allow the current configuration to be preserved. Conversely, a break would expose these assets to a return to their summer fluctuation zone.

Against Bitcoin, altcoins are also showing short-term weakness. Cara is monitoring an ascending support line: its break would signal a further deterioration in their relative performance. A rebound in dollars is therefore not enough to demonstrate that they are regaining the advantage over BTC.

Ethereum maintains a bearish configuration until it recovers $2,400. On the four-hour chart, its price remains locked between two descending limits. An exit from this figure would provide a signal to be examined, but it still requires confirmation.

However, the Ethereum/Bitcoin pair is showing a first favorable sign of a near-term reversal after briefly touching a buy zone identified by Cara. This signal remains local and does not validate a recovery of all altcoins.

Finally, Zama and Venice attract his attention for their consolidation phases. NEAR presents a less favorable situation: an old support is now slowing down the price.

Machine-translated from French