The Total Crypto Market Cap (TOTALCAP) and Bitcoin (BTC) show bearish signs that could soon lead to a downward movement. As for Launchpad, XYZ’s presale continues to attract traders looking for novelty in the crypto universe.
Crypto Market Cap confirms resistance.
TOTALCAP has fallen sharply since April 14. On April 20, it fell below the $1.16 billion horizontal zone. Four days after this failed recovery, Crypto Market Cap validated this trend as resistance (red icon).
After detaching from a zone, these validations are considered bearish signs. As a rule, they often follow further declines.
If this fall continues, NFT TOTALCAP could reach its $980 billion support zone. However, if it manages to regain the $1.16 billion area, a bullish move towards $1.30 billion could quickly ensue.
Is the price of Bitcoin (BTC) on the verge of collapse?
The Bitcoin price has been following a head-and-shoulder trend since March 17. It does not bode well since it tends to lead to lower prices. Today, the neckline of this scheme stands at $27,500.
If the BTC price falls below this level, it could fall as low as $23,200. It is equivalent to the Fib 0.5 retracement support.
However, if the price breaks above the right band of the figure, it will buck the downtrend and could reach the symbolic $42,000 mark.
READ MORE: Why Does Binance Take So Long to Withdraw?
The Launchpad XYZ presale is still prevalent.
For its part, Launchpad XYZ’s presale continues in a good way. As a reminder, Phase 1 of the NFT LPX presale raised more than $150,000. And this, from the first hours after its launch.
Billed as the ultimate solution to today’s problems facing the Web3 industry, Launchpad XYZ is of great interest to investors. This project seems to seduce enormously by its DEX, crypto wallet and NFT Marketplace. Players are not left out, as the project also plans to offer a section entirely dedicated to gaming
The thousands of dollars already raised by the project are proof that Launchpad XYZ could become the following nugget of the crypto industry.