#wave count analysis

Altcoin Market Cap Bounces After Reaching Crucial Fib Ratio

The Altcoin Market Cap (ALTCAP) has bounced at a crucial Fib level after decreasing by 69% since its all-time high. ALTCAP has been falling since reaching an all-time high price of $1.70 trillion in Nov 2021. The decrease was preceded by a bearish divergence in the weekly RSI (green), which has now fallen to oversold territory. The downward movement continued until a low of $427 billion was…