- Altcoins test critical support at EMA 50 and an ascending trendline, potentially deciding the market’s future direction.
- The altcoin market sees stability tests at key support zones, with the EMA 50 and trendline crucial for determining the next trend.
- A crucial test of EMA 50 and an ascending trendline as altcoins hover near $975 billion, signaling a critical market decision point.
The altcoin market’s weekly EMA 50 and an ascending trendline plays critical roles in market movement. According to crypto analyst el_crypto_prof, these two key indicators have previously determined whether the altcoin market trends bullish or bearish. Currently, the market tests both levels, which have acted as strong support for over a year. This intersection could signal the market’s next move.
Strong Support Levels Hold Firm
The data displays price data from mid-2022 through early 2025. As of now, the total market capitalization of altcoins stands at around $979 billion. The market dipped slightly by 1.37%, reflecting a decrease of $13,558, but remains close to the previous highs.
There is several critical moments over the last two years. In 2022, the altcoin market plummeted sharply, with red candles that fell below the blue moving average line. This marked a bearish trend. However, the market started to level off and establish a foundation as 2023 progressed. Midway through 2023, a bullish trend began when green candles broke above the blue moving average line, signaling a turnaround.
2024: Key Rally and Market Correction
The altcoin market had an upswing by 2024, peaking at about $1.6 trillion. A robust recovery after support from the trendline and the blue moving average propelled this spike. With steady higher lows throughout the year, the market continued to build pace and confirm the upward trend.
However, following the 2024 surge, prices started to decline. The market is once again putting support levels to the test as 2025 approaches, especially the EMA 50. This region has historically been important, with the trendline and moving average providing stability. The outcome of this test will determine whether the current upward trend continues or if a further collapse is imminent.
